Santander UK is reducing all 60-75% LTV remortgage interest rates by up to 0.16%.
Santander’s two-year fixed rate remortgage products now start from 3.84%, while five-year fixed rates start from 3.87%.
At 60% LTV, two-year fixed rates are available from 3.84% with a £999 fee and 4.10% fee-free, while a five-year fix with a £999 fee is down to 3.87%.
At 75% LTV, a two-year fixed rate has reduced to 4.09% and a five-year fix to 4.01%, both with a £999 fee.
The new pricing is available to all customers, whether they are applying via a broker or directly, under Santander’s 'no dual pricing' pledge to brokers.
Alongside the new rates, customers remortgaging with Santander can opt for free legal support from the lender’s panel of solicitors or receive £250 cashback paid to the conveyancer on completion of the mortgage.
Graham Sellar, head of Santander for Intermediaries, said: “Industry data predicts around 1.8 million fixed rate mortgages are due to come to an end in 2025. This leaves us in a mixed market, as customers on a five-year fixed rate may be anticipating a rate increase, while those on a two-year fixed will likely be able to secure a lower rate than they’re currently on.
"Brokers are likely to be seeing an uptick as customers take much-needed advice to ensure they get the best deal for them, and we hope our latest range of reductions help more customers in their homeownership journeys.”
