The new rate also comes with Santander's Remortgage Solution which offers a free basic mortgage valuation, and either free legals or £250 cash-back on completion.
In addition, Santander has reduced rates on the following:
- Two year Remortgage tracker at 60 per cent LTV reduced by 0.1 per cent to 2.19 per cent with a £1,495 fee.
- Two year Homebuyer and Remortgage fixed reduced by 0.1 per cent to 3.44% with £995 fee.
- Two year fixed at 60 per cent reduced by 0.1 per cent to 3.39% with £995 fee (available to homebuyers and remortgagors).
- Five year Homebuyer and Remortgage fixed at 75 per cent reduced by 0.05 per cent to 5.19% with £995 fee.
Products offering the Homebuyer Solution come with the added benefits of a free basic mortgage valuation and £250 cash-back on completion.
Santander has also reduced a selection of rates and fee on its shared ownership range:
- Three year fixed at 95 per cent reduced by 0.1 per cent to 5.99 per cent and with a reduced fee to £199.
- Three year tracker at 95 per cent reduced by 0.1 per cent to 5.25 per cent with a reduced fee to £199.
- Five year fixed at 95 per cent at 6.49 per cent with a reduced fee to £199
All products are available to homebuyers and remortgagors.
Phil Cliff, Director of Santander Mortgages said:
"As the ‘Home of UK Mortgages' we are committed to helping homeowners - whether they are first time buyers or those looking to move. Our new fixed 75 per cent LTV product is market leading, with a 3.59 per cent rate and £995 fee - ideal for those looking to move or wanting to fix in advance of possible rate rises.
"We also have a number of reductions on our remortgage and homebuyer ranges to suit the individual needs of homeowners. While our Shared Ownership products continue to offer competitive rates and fees, offering value-for-money for those homeowners keen to take their first steps on to the property ladder."
