Santander has announced mortgage rate reductions of up to 0.23% across new business and product transfer ranges for residential and buy-to-let (BTL) deals.
The largest reduction applies to Santander’s standard residential fixed rate products for purchase, remortgage and green mortgages.
The bank will also cut all new-build fixed rates by as much as 0.16% and large loan fixed rates by 0.1%.
For BTL borrowers, fixed rates and green deals will be lowered by up to 0.16%.
Within its product transfer range, Santander will cut select residential fixed rates by up to 0.23% and BTL fixed rates by up to 0.14%.
For new business, Santander has released two-year fixes at 60% and 75% loan to value (LTV) for purchase with a maximum loan size of £250,000. These have options of no fee or a £749 fee.
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Santander has also added £250 cashback to all its fixed rate purchase products at 85% and 90% LTV.
Additionally, the lender is reintroducing two- and five-year fixed green remortgages at 60% LTV with no fee.
The changes will be launched on 12 December.
Last week, Santander announced it had improved the affordability rate for residential borrowers.
Principality BS revises mortgage rates
Principality Building Society has announced it would be lowering select mortgage rates on 12 December, while others will be increased.
Reductions of up to 0.1% will be made to select two-, three- and five-year fixes at 65% LTV for residential borrowers, while two-, three- and five-year fixes at 75% LTV will be cut by up to 0.11%.
Principality Building Society will also cut rates across select two- and five-year fixed at 80% LTV by as much as 0.12%.
Residential mortgages with cashback will be reduced by up to 0.1%, applying to select two- and five-year fixes at 65% LTV, two-year fixes at 75% LTV and five-year fixes at 80% LTV.
Its joint borrower sole proprietor mortgage rates will be cut by up to 0.11% across two- and five-year fixes at 75% and 80% LTV.
The mutual will lower two- and five-year fixed holiday let rates at 60% LTV by up to 0.1%, and pricing on two- and five-year fixed Help to Buy Wales deals at 75% LTV by up to 0.13%.
Elsewhere, Principality Building Society will increase rates on five-year fixed residential mortgages at 90% LTV by 0.05% and five-year fixed BTL mortgages at 75% LTV by up to 0.1%.
