Santander has made a further round of rate cuts, effective from 9 December, as the lender looks to begin the new year with its most competitive pricing in more than 12 months.
The reductions apply across its new business and product transfer ranges and follow a sustained period of repricing throughout November.
The lender’s lowest available rate will begin at 3.51% for home movers — a notable shift from the 4.07% floor recorded on 1 January 2025. All products remain available through brokers and direct channels under Santander’s no dual pricing commitment.
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.”
He added: “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.”
HOME MOVERS
Home movers will see new 60% and 75% loan to value two and five-year fixes starting from 3.51% with a £1,999 fee, for loans from £500,000. Selected five-year fixes at 75% to 90% loan to value have been cut by up to 0.03%, with rates from 3.65%.
FIRST-TIME BUYERS
All 85% and 90% loan to value two-year fixed rates have fallen by up to 0.15%, with pricing from 4.06%. Five-year options at 85% loan to value have been trimmed by up to 0.05%, starting from 4.19%.
REMORTGAGE
Selected two-year fixes at 60% to 90% loan to value have been reduced by up to 0.07%, beginning at 3.69%. Three-year fixes at 60% to 75% loan to value fall by up to 0.02%, starting from 3.78%, while five-year fixes at 60% to 90% loan to value are down by as much as 0.12%, with rates from 3.71%.
NEW BUILD
For home movers purchasing new build property, selected five-year fixed rates at 75% to 90% loan to value fall by up to 0.03%, starting from 3.99%.
New build first-time buyers benefit from the same reductions as the wider first-time buyer range, with two-year fixes at 85% and 90% loan to value down by up to 0.15%, starting from 4.06%, and five-year 85% loan to value fixes down by up to 0.05%, beginning at 4.19%.
BUY-TO-LET PURCHASE
Buy-to-let purchase products at 60% to 75% loan to value have been reduced by up to 0.08% across two and five-year fixes, with pricing from 3.74% and 3.93% respectively.
BUY-TO-LET REMORTGAGE
Buy-to-let remortgage customers see two-year fixes at 65% to 75% loan to value fall by up to 0.08%, starting from 3.82%, while five-year fixes at 60% to 75% loan to value reduce by up to 0.09%, with rates from 3.85%.
