Santander UK is set to reduce interest rates across its mortgage products, including its home mover, first-time buyer, new build, remortgage, and buy-to-let range.
The new pricing reflects the recent reduction in swap rates and marks the third reduction in rates from the lender in the past four weeks.
For home movers, interest rates have been reduced by up to 0.15% across 2-, 3- and 5-year fixed-rate products.
For example, the 95% loan-to-value (LTV) 2-year fixed product with no fee and £250 cashback has had its rate reduced by 0.15% to 4.95%.
The 60% LTV 3-year fixed product with a £999 fee has seen a 0.05% reduction, bringing the new rate to 3.94%.
Additionally, the 60% LTV 5-year fixed product with a £999 fee has been reduced by 0.03%, resulting in a new rate of 3.89%.
For first-time buyers, rates have been reduced by up to 0.11% across 2-, 3- and 5-year fixed-rate products.
This includes the 60% LTV 2-year fixed product with a £999 fee, which has seen a 0.05% reduction to 3.89%.
The 95% LTV 2-year fixed product, which comes with no fee and £250 cashback, has been reduced by 0.10%, bringing the rate to 5.04%.
The 60% LTV 3-year fixed product with a £999 fee has had its rate lowered by 0.05% to 3.99%, while the 5-year version of the same LTV and fee structure has been reduced by 0.11% to 3.99%.
In its remortgage range, Santander has cut rates by up to 0.18% across 2-, 3- and 5-year fixed-rate options.
The 85% LTV 2-year fixed product with no fee now has a rate of 4.86%, following a 0.13% reduction.
The 60% LTV 3-year fixed product with a £999 fee has seen the largest cut in this category, with a 0.18% reduction taking the rate to 4.01%.
Meanwhile, the 60% LTV 5-year fixed product with a £999 fee has been reduced by 0.06%, resulting in a new rate of 3.92%.
The changes are set to come into effect from Tuesday 13th May.
