Santander has cut the rates on its 80% LTV mortgages.

It now offers a 3.25% two-year tracker up to 80% LTV with a £995 fee for purchase only including the Homebuyer Solution (free valuation and £250 cashback on completion). There is also a 3.25% two-year tracker up to 80% LTV with a £1,495 fee for remortgage customers with the Remortgage Solution (free legals and free valuation).

Santander is also offering a 4.95% two-year fix up to 80% LTV with a £995 fee for purchase only including the Homebuyer Solution.

Phil Cliff, mortgage director for Santander, said: “We are committed to offering our customers the most competitive rate. Where borrowers can