Santander will offer sub-4% mortgage deals, the first high street lender to do so this year.
The lender will offer four new sub-4% mortgage deals on two- and five-year fixed rate terms at 60% loan to value (LTV) for residential purchase and remortgage. Pricing starts at 3.99% and will be available from 13 February.
The sub-4% mortgage deals purchase deals come with a £1,999 fee and remortgage products are subject to a £1,749 fee.
The firm added that it would be lowering rates by up to 0.4% on over 80 deals, with residential purchase, remortgage, new-build purchase, and buy-to-let (BTL) purchase and remortgage products impacted.
Santander is also bringing out a range of 65% LTV options for BTL purchase and remortgage customers, giving them more choice.
This includes a two-year fixed BTL purchase rate at 65% LTV at 4.35%, with its five-year fixed rate standing at 4.32%. Both come with a £1,749 fee.
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Its two-year no-fee option is 4.89% and its fee-free five-year deal is 4.59%.
The lender’s BTL remortgage two-year fixed rate is 4.35% with a £1,749 fee or 4.89% with no fee.
Its five-year fixed rate is 4.25% with a £1,749 fee or 4.52% with no fee.
David Morris, head of homes at Santander UK, said: “We’re delighted to launch a range of new products, along with rate cuts on our existing range, that will make a difference to customers across every stage of the home buying journey.
“From prospective buyers looking to get on the ladder for the first time to landlords in the buy-to-let market, we’re proud to offer competitive products that help our customers reduce the overall cost of their mortgage.”
Halifax launches remortgage deals and increases select rates
Halifax is adding remortgage products and increasing select tracker products in its remortgage, homemover and first-time buyer ranges.
The changes come into effect on 13 February.
Within its remortgage range, the lender is adding one-and-a-half-year fixed rate deals with a remortgage conveyancing service included.
Remortgage tracker products and tracker deals in its homemover and first-time buyer deals will rise by 0.18%.
