Mortgage News
Santander reduces new business and product transfer rates
Santander will cut fixed rates across its new business and product transfer ranges by up to 0.2 per cent.
The changes will come into force tomorrow.
On the new business side, most purchase rates will decrease by between 0.04 per cent and 0.2 per cent, including larger loan rates.
The lender said that all new build rates would fall by at least 0.05 per cent and deals under 75 per cent loan to value (LTV) would go down by around 0.15 per cent or 0.2 per cent.
Santander added that selected remortgage rates would fall by between 0.08 per cent and 0.2 per cent.
The company added that its lowest on-sale rate will be its five-year fixed purchase rate at 60 per cent LTV with a rate of 3.94 per cent.
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In its product transfer range selected fixed rates are falling by between 0.08 per cent and 0.2 per cent.