Residential and buy-to-let (BTL) fixed rates will decrease by around 0.23% and product transfer fixed rates will fall by 0.16%.
The changes will come into effect from 16 July.
Within its new business range, all residential homemover two-year fixed rates between 60% and 95% loan to value (LTV) will be reduced by up to 0.17%, while three-year fixed rates will fall by up to 0.16%, five-year fixed rates will go down by up to 0.13% and 10-year deals will fall by up to 0.15%.
On the residential homemover new-build side, most two-year fixed rates between 60% and 95% LTV are going down by up to 0.17%, while three-year fixed rates will decrease by up to 0.16% and five-year fixed rates will fall by up to 0.13%.
In its first-time buyer range, all two- and five-year fixed rates between 60% and 95% LTV will reduce by up to 0.18%, while three-year fixed rates will go down by up to 0.17%, five-year fixed rates will reduce by up to 0.15% and 10-year deals will reduce by up to 0.23%.
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Within its first-time buyer new-build range, all 60-95% LTV two-year fixed rates will decrease by up to 0.18%. Meanwhile, three-year rates will go down by up to 0.17% and five-year rates will fall by up to 0.15%.
On the residential remortgage side, most 60-90% LTV two-year fixed rates will be cut by up to 0.1%. In addition, three-year fixed rates will be cut by up to 0.13%, five-year fixed rates by up to 0.1% and 10-year rates by up to 0.23%.
In its large loan range, all 60% LTV two- and five-year fixed rates will be reduced by 0.1%.
All 60-75% LTV two-year fixed BTL purchase rates are falling by up to 0.21% and five-year deals by up to 0.14%.
In its BTL remortgage range, all 60-75% LTV two-year fixed rates will fall by up 0.15% and five-year rates by up to 0.06%.
Within its product transfer range, most two-year fixed rates between 60% and 95% and above 95% LTV will reduce by up to 0.08%, while three-year fixed rates will go down by up to 0.16%, five-year fixed rates will fall by up to 0.05% and seven-year rates will reduce by up to 0.1%.
Looking at BTL product transfer deals, all 60-75% and above 75% LTV two-year fixed rates will be reduced by up 0.11%, and five-year ones will be cut by up to 0.06%.
It is the second time in two weeks that Santander has lowered rates.
Monmouthshire BS lowers remo rates by up to 0.16%
Monmouthshire Building Society has lowered remortgage fixed rates by up to 0.16%, with sub-4% deals available.
Around six remortgage products have been lowered, with pricing starting from 3.99%.
The rate cuts include its two-year fixed residential remortgage rate at 75% loan to value (LTV), which is priced at 3.99%, while its five-year fixed residential remortgage rate at the same LTV is 4.05%.
Going up to 80% LTV, its two-year fixed residential remortgage deal is priced at 4.15%, while its five-year fixed rate comes to 4.25%.
At 90% LTV, its two-year fixed rate residential remortgage at 90% LTV comes to 4.35%, and the five-year equivalent is 4.3%.
Chris Jeanes, Monmouthshire Building Society’s senior product manager, said: “We’re committed to supporting remortgage customers – particularly those experiencing rate shock as they come off existing deals into a higher-rate market. These products reflect our dedication to offering good-value solutions when they’re needed most.
“In addition, we offer income boosts up to 5.5x for professionals, and full consideration of overtime, bonuses, and commissions. We aim to take a holistic view of each customer’s situation while delivering the best possible service.”
Earlier this year, the firm partnered with MQube to deliver faster mortgage decisioning.
