"By reducing the rates on our higher loan to value two and five year fixed rate product range, we hope to enable more first time buyers get a foot on the housing ladder."
Two-year fixed rates are now available from 1.45% at 85% LTV with a £999 product fee, or 1.74% fee-free. 90% LTV rates are available from 2.20% with a £999 product fee or 2.49% fee-free.
Five-year fixed rates now start from 2.04% at 80% LTV, 2.19% at 85% LTV and 2.74% at 90% LTV, all with a £999 fee.
Fee-free five-year fixes are available at 2.29% up to 80% LTV, 2.39% at 85% LTV and 3.04% at 90% LTV.
First-time buyers can also take advantage of free valuation and £250 cashback.
Additionally, Santander is extending its two-year fixed rate first-time buyer exclusive at 85% LTV to all buyers, meaning customers will be able to secure this rate whether they are buying a new property or remortgaging. At the same time, Santander is reducing its two and a half year fixed New Build exclusive at 85% LTV to 1.84% with a £999 product fee.
Alongside these changes, Santander will be reducing its two-year tracker at 60% LTV, so its trackers will start from 1.09%.
Miguel Sard, Managing Director of Mortgages at Santander UK, said: “By reducing the rates on our higher loan to value two and five year fixed rate product range, we hope to enable more first time buyers get a foot on the housing ladder.
“We know that appetite for homeownership remains high, we are working to support these customers make their dream a reality.”
