Santander is cutting rates across its residential fixed mortgage range for new business and product transfers, while launching new large loan products for remortgage customers.
From Tuesday 11th November, fixed rates will fall by up to 0.14%, marking the second reduction this month following a round of cuts on 3rd November for home mover products.
The changes apply to loans available both through brokers and directly to customers, under Santander’s no dual pricing policy.
Among the new offers are 5-year fixed rate large loan products for remortgage customers, starting at 3.90% up to 60% loan-to-value (LTV), with a minimum loan size of £500,000.
For home movers, two- and five-year fixed rates at 60% to 95% LTV have been reduced by up to 0.13%.
Highlights include a 60% LTV 2-year fixed rate at 3.93% with no fee and £250 cashback, and an 85% LTV 5-year fixed rate at 4.20%, also with no fee and £250 cashback.
First-time buyers will see 90% LTV 5-year fixed rates fall by up to 0.14%, with one headline product now at 4.44% with £250 cashback and no fee.
For remortgage customers, 2- and 5-year fixed rates at 60% to 85% LTV are down by up to 0.10%.
Examples include a 60% LTV 2-year fix with a £999 fee at 3.80%, and an 85% LTV two-year fix with the same fee at 4.26%.
3-year fixes across 60% to 75% LTV bands have also fallen by up to 0.14%.
New build products have been similarly adjusted, with 2-, 3- and 5-year fixed rates reduced by up to 0.14% for both home movers and first-time buyers.
Santander has also trimmed its product transfer rates by up to 0.10% across 2-, 3- and 5-year residential fixed rate options at 60%, 75%, 80% and 85% LTV.
