Santander is releasing a range of buy-to-let (BTL) trackers and lowering select rates in its new business and product transfer ranges by up to 0.24%.
In the new business range from Santander, the lender has added a two-year BTL tracker for purchase and remortgage at 60% loan to value (LTV) priced at 5.6% and at 75% LTV with a rate of 5.74%. Both come with a £1,749 fee.
Selected BTL fixed rates have decreased by between 0.03% and 0.11% for purchase and remortgage, and selected residential fixed rates have fallen by 0.02% and 0.24%, also for purchase and remortgage.
On the product transfer side, Santander has added a BTL two-year tracker range up to 75% LTV.
Selected residential fixed rates in this range will be between 0.03% and 0.05%.
The lender said that for clients who want to change or cancel their new deal, if customers haven’t accepted their product transfer offer yet, they can select a new product in the online mortgage transfer service for them and a new offer will be issued.
If the customer has already accepted their new deal, they can change to a different deal or cancel the one that’s already booked for them. They must do this at least 14 days before their new deal starts.
The lender said that, while a product transfer is pending, a client cannot make any other changes to their mortgage until that new deal has started. This includes a switch to interest-only for six months or a term increase under the Mortgage Charter, and other changes such as overpayments.
Earlier this month, Santander increased large loan LTV limits and maximum borrowing amounts.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
