The lender is also reducing its two-year tracker at 60% loan to value (LTV), so its trackers will start from 1.09%.

Santander has cut rates on four two-year fixed rate products, while making its 85% LTV first-time buyer exclusive available to all customers and cutting the rate on its two-and-a-half-year new build exclusive.

Seven five-year products have had their rates been cut at between 80% and 90% LTV.

 

Tracker cut

Meanwhile, the 60% LTV two-year tracker will be available at 1.09% (bank base rate +0.84%) with £999 product fee, for purchases and remortgage.

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Santander UK managing director of mortgages Miguel Sard said: “By reducing the rates on our higher loan to value two- and five-year fixed rate product range, we hope to enable more first-time buyers get a foot on the housing ladder.

“We know that appetite for homeownership remains high and we are working to support these customers to make their dream a reality.”