Santander has cut mortgage rates and introduced new loyalty deals.

Buy-to-let rates now start from 2.35% for a two-year fixed up to 60% loan to value (LTV) with a £1995 booking fee.

Santander has also cut rates on its standard residential purchase and remortgage rates by up to 0.65 percentage points. New deals include:

• 1.39% two year fixed, 60% LTV, £1495 booking fee (£200,000 minimum loan)
• 2.35% five year fixed, 60% LTV, £995 booking fee
• 2.94% ten year fixed, 70% LTV, £995 booking fee
• 4.24% three year fixed, 90% LTV, no booking fee

Its new range of loyalty mortgages offers either a reduced rate or lower booking fee. In addition, Santander is offering a free standard valuation and £250 cashback for purchase customers or a free standard valuation and free legals for remortgage customers. Loyalty mortgage highlights include:

• 1.64% two year fixed, 60% LTV, £495 booking fee
• 1.89% two year fixed, 60% LTV, no booking fee
• 2.35% five year fixed, 60% LTV, £495 booking fee
• 2.94% 10 year fixed, 70% LTV, £495 booking fee

Santander has relaunched its Large Loan mortgages. The new range of 60% LTV fixed mortgages start from 1.69% for a two year fixed at 60% LTV with a £1995 booking fee. There have also been reductions made on 70% LTV fixed and tracker mortgages, while the maximum loan size has been increased to £3 million.

“We know that different customers want different things, which is why our new range supports Buy to Let landlords, offers competitive rates on our residential products, including larger loans and rewards customers loyalty,” said Miguel Sard, head of Santander Mortgages.

“We have some of the lowest rates available in the market and want to support every customer secure the best mortgage to meet their needs.”

The majority of our standard residential mortgages come with Santander’s Homebuyer Free Valuation3 for purchase customers or Remortgage Solution for remortgage customers.

In addition, Santander 1|2|3 Current Account customers who pay their monthly Santander mortgage payment by direct debit will receive 1% cashback on maximum monthly mortgage payments of up to £1,000.