Santander cuts select fixed rates

It also launches new BTL trackers

Santander cuts select fixed rates

Santander UK has announced rate cuts to several of its fixed rate products in the purchase, remortgage, and buy-to-let categories.

Concurrently, the bank has introduced a new range of buy-to-let two-year tracker mortgages available at up to 75% loan-to-value (LTV).

Reductions in five-year fixed rates include a drop from 4.89% to 4.79% for the 85% LTV residential purchase mortgage and a decrease from 5.23% to 4.99% for the 90% LTV option, both offered without a product fee.

For two-year fixed rates, the 85% LTV residential remortgage has been reduced to 5.58% from 5.73%, and the 90% LTV option now stands at 5.78%, down from 5.94%, each carrying a £999 fee.

Earlier this month, the lender also made significant reductions to its fixed rate mortgage and buy-to-let product offerings.

Meanwhile, the new buy-to-let tracker products feature rates such as 5.60% for a 60% LTV and 5.84% for a 75% LTV, both with a £1,749 fee applicable to either remortgages or purchases.

The complete list of new rates is available on the lender’s website.

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