It has also launched a new 80% LTV two year fixed at 2.09% with a £1495 booking fee, for purchase and remortage loans of £250k and above, and cut rates across selected high LTV products.
High LTV rate cuts all have no booking fee, and include:
- 80% LTV 5 Year Fixed 3.19% (Loyalty rate of 3.09%) for purchase and remortgage
- 85% LTV 5 Year Fixed 3.79% (Loyalty rate of 3.69%) for purchase and remortgage
- 90% LTV 5 Year Fixed 4.29% (Loyalty rate of 4.19%) for purchase only
Santander has also launched new buy to let rates, including a 3.09% two year fixed 60% LTV, and 3.64% two year fixed 75% LTV, both with a zero booking fee, purchase and remortgage.
Miguel Sard, Head of Santander Mortgages, Santander said:
“With the Bank of England maintaining the base rate at a low, people are starting to explore ways to make their money go further. Property is seen as a long-term investment and increasing numbers of customers are applying for buy to let mortgages.
“For people looking to move or buy for the first time, they are still facing some high upfront costs. Which is why we’ve reduced our rates and maintained the zero booking fees on selected high LTV products, helping customers make their deposits go as far as possible. They are also aimed at those looking to remortgage, who are often put off switching, or even shopping around, by the perceived costs of changing providers. We want to support every customer secure the best mortgage to meet their needs.”
