Santander has made reductions across 70 mortgage products for residential purchase and remortgage up to 0.23%.
Rates on its new-build exclusive, green remortgage and buy-to-let (BTL) products have also been lowered by up to 0.16%.
Further, £250 cashback has been added to all residential mortgages at 85% loan to value (LTV) and above.
Across its purchase products, a two-year fix at 60% LTV with a £999 fee has been lowered by 0.11% to 4.21%, while the equivalent at 85% LTV now has £250 cashback and has gone down from 4.76% to 4.69%.
Its fee-free five-year fixed purchase product at 95% LTV now has £250 cashback and has been cut by 0.12% to 5.29%.
Santander has reduced its three-year fixed remortgage rate by 0.05% to 4.26% at 60% LTV with a £999 fee. The corresponding product at 75% LTV has gone down from 4.53% to 4.3%.
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At 90% LTV, a fee-free five-year fixed remortgage has been reduced by 0.1% to 5.21%.
For BTL borrowers, a five-year fixed rate remortgage at 75% LTV with a £1,749 fee has dropped by 0.14% to 4.4%, while the fee-free purchase option has gone down by 0.08% to 4.67%.
Graham Sellar, head of intermediary channels at Santander, said: “It’s the time of year where everyone is on the hunt for the opportunity to make their money go that little bit further.
“We’re pleased to deliver this bumper range of rate cuts across more than 70 products, alongside adding cashback for those looking at higher LTVs; helping more customers manage their borrowing for less and improving affordability for those hoping to secure a home ahead of the April stamp duty changes.”
Virgin Money lowers mortgage rates and extends Green Reward deadline
Virgin Money has made a series of rate reductions to its residential products.
Across its purchase deals with a £995 fee, the two-year fix at 65% LTV has been reduced by 0.16% to 4.37%, while the option at 75% LTV has gone down by 0.1% to 4.43%. At 85% LTV, there has been a 0.22% cut to 4.75%, and at 90% LTV, a 0.05% reduction to 5.08%.
For five-year fixes in this range, the 65% LTV deal has been lowered by 0.05% to 4.24%, and the 75% LTV product cut by the same amount to 4.29%. The option at 85% LTV has been reduced by 0.21% to 4.43%.
Meanwhile, its fee-free purchase deals up to 95% LTV, fixed for two or five years, have been lowered by as much as 0.19%.
Virgin Money will also cut select shared ownership fixed rates by up to 0.1% to start from 4.24%, select Own New rates by up to 0.22% to start from 0.5%, and Retrofit Boost five-year fixed rates by up to 0.21% to start at 4.59%.
It has also extended the deadline to register for its Green Reward offer, which gives borrowers £250 cashback for making green home improvements.
Market Harborough BS reduces fixed rates and SVR
Market Harborough Building Society has reduced residential and BTL fixed rates by up to 0.3% while lowering its standard variable rate (SVR) by 0.2%.
The specialist lender’s residential rates now start from 5.69% fixed and 6.24% variable for tier one cases up to 75% LTV with a £1,495 product fee.
The mutual’s BTL rates now start from 5.75% fixed and 6.3% variable for tier one cases up to 75% LTV, including top slicing and lending into retirement.
Furthermore, from 1 January 2025, Market Harborough Building Society will lower its SVR by 0.2% to 7.99%.
Iain Smith, Market Harborough Building Society’s head of mortgage distribution, said: “We’re pleased to announce this reduction across our residential and let fixed rates, and our SVR.”
