Santander is lowering selected new business and product transfer rates for residential and buy-to-let (BTL) deals and introducing new-build rates and 10-year products.
The changes to its new business and product transfer rates will come into effect from 13 August.
Within its new business range, residential purchase and remortgage fixed rates will fall by between 0.02% and 0.19%.
On the BTL side, fixed rates will decrease by around 0.05% and 0.15%, while new-build fixed rates will go down by between 0.03% and 0.07%.
Santander is also bringing out 10-year fixed rates for purchases and remortgages.
In its product transfer range, selected residential fixed rates will decrease by between 0.01% and 0.27%, while selected BTL fixed rates will fall by between 0.05% and 0.15%.
Santander previously lowered BTL, new-build and residential fixed rates by up to 0.2% at the start of the month.
NatWest to cut rates by up to 0.42%
NatWest will lower select new business rates by up to 0.42%, with residential, first-time buyer, shared equity and BTL products impacted.
Within its residential range, purchase and remortgage rates have been reduced by up to 0.2%. This includes its two-year fixed rate at 60% loan to value (LTV) with a £1,495 fee, which will fall from 4.48% to 4.28%.
On the first-time buyer side, purchase and remortgage products will also fall by up to 0.2%. Its two-year fixed rate purchase deal at 85% LTV with a £995 fee and £250 cashback will decrease from 4.94% to 4.74%.
Shared equity products will go down by up to 0.2%, with pricing starting from 4.48% for a two-year fixed purchase rate at 60% LTV. The product has a £995 product fee and £250 cashback.
Help to Buy deals will decrease by 0.2%, with rates starting from 4.54% for a two-year fixed rate at 60% LTV with a £995 fee and £500 cashback.
BTL products will decrease by 0.42%, with its two-year fixed rate purchase deal at 60% LTV falling from 5.09% to 4.67%. It has a product fee of £995.
Residential green mortgages will reduce by 0.2% and BTL green mortgages will fall by 0.42%. Pricing for residential green mortgages begins from 4.28%, while BTL green mortgages start from 4.57%.
NatWest last lowered new business rates by up to 0.15% at the end of July.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
