Santander is reducing its residential and buy-to-let fixed rates across its new business and product transfer ranges by up to 0.15%.
Available from tomorrow, residential rates now start from 3.51% - a fall of 0.56% from the start of this year when its lowest rate was 4.07%.
The lowest rates are available for home movers taking a two or five-year fixed rate up to 75% LTV, priced from 3.51% with a £1,999 fee.
For first-time buyers, all 85% and 90% LTV two-year fixed rates have reduced by up to 0.15%, starting from 4.06%, with five-year rates down by up to 5bps and starting from 4.19%.
Remortgage rates are decreasing by up to 0.12%, with two-year fixed rates starting from 3.69%, three-year rates from 3.78%, and five-year rates from 3.71%.
In Santander's buy-to-let rates, purchase rates are down by up to 0.08%, with two-year rates now starting from 3.74% and five-year rates from 3.93%. Remortgage rates are down by up to 9bps, starting from 3.82%.
The newly reduced rates are available to customers applying via broker or directly, under Santander’s ‘no dual pricing’ pledge.
The latest reductions follow a string of mortgage rate cuts from other lenders in recent days, with Nationwide's lowest rate standing at 3.58%.
Graham Sellar, head of Santander for Intermediaries, said: “2025 has been the year of the buyer, with rate reductions and affordability improvements helping more buyers take that first step onto or move up the property ladder. We’re pleased that our final rate change of 2025 continues this positive trend for buyers with reductions across the board and our lowest on sale rate of the year to support buyers into January with a new year, new home hunt.”
