Santander has reduced interest rates on a wide range of its residential mortgage products by up to 22 basis points.
The new rates span the bank’s offering for first-time buyers, home movers, remortgage customers and those purchasing new build homes.
For first-time buyers, some of the most significant cuts include a 0.22% reduction on the 95% loan-to-value five-year fixed rate, which now stands at 4.85% with no fee and £250 cashback.
Other notable changes include a drop of 0.15% on the 90% LTV two-year fix, now priced at 4.73%, and a 0.14% cut to the 95% LTV two-year fix, now at 5.00%.
Home movers will also benefit from improved pricing, particularly at higher LTVs. The 90% LTV two-year fixed product, which comes with no fee and £250 cashback, has been reduced by 0.12% to 4.73%.
The equivalent five-year fix at 95% LTV sees the same level of reduction, bringing the rate down to 4.78%.
Remortgage customers will see more modest changes. The 90% LTV two-year fix with a £999 fee has been cut by 0.10% to 4.79%, while the 60% LTV five-year fix with the same fee is now priced at 3.96%, down by 0.07%.
The lender has also updated its new build exclusives, cutting rates across both first-time buyer and home mover ranges. These include a 0.22% reduction on the 95% LTV five-year fix for first time buyers, which is now 4.85%, and a 0.12% drop to 4.78% on the corresponding product for home movers.
