The product, which tracks the Bank of England base rate for the entire mortgage term, has been reduced from base plus 3.09 to base plus 2.59.
It comes with a £495 fee and allows customers to use a savings account to offset their mortgage balance.
Customers have the options to overpay or take a mortgage payment holiday, as well as paying off the balance with no early repayment charge.
SfI reduces rates on Flexible Offset mortgages
Santander for Intermediaries is reducing the rate on its Flexible Offset mortgage tomorrow by 0.5% to 3.09%.
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