Santander cuts BTL rates to 'support slowing market'

"We hope that by reducing the product fee on our BTL products, we will support this area of the market"

New two-year fixed rates start from 1.44% at 60% LTV and 1.94% at 75% LTV, both with a £1,495 product fee.

Santander has also reduced rates on a selection of existing fixed rate residential products.

New residential rates include a 90% LTV two-year fixed rate at 2.54% and five-year fixed rates from 1.79% at 60% LTV and 1.99% at 75% LTV.

Brad Fordham, Managing Director of Santander for Intermediaries, said: “The buy-to-let market has slowed in recent months, but appetite for investing in property remains. We hope that by reducing the product fee on our BTL products, we will support this area of the market and help those who want to invest make their ambition become a reality.”