Amongst the changes, the bank has reduced rates on its 60% loan-to-value (LTV) two-year fixed buy-to-let product to 2.14% with a 1% booking fee.
The booking fee has been removed from the bank’s 60% LTV two-year fixed buy-to-let product, with a rate of 2.94%, and the 75% LTV two-year fixed product, priced at 3.64%.
The lowest rate available is on the 60% LTV two-year fixed buy-to-let, now at 1.89%, with a booking fee of £1995.
Brad Fordham, managing director of Santander for Intermediaries (pictured), said the buy-to-let market has had to adapt to many changes and that the product rate reductions should help borrowers adjust.
“The buy-to-let space has been heavily scrutinised over the last year,” said Fordham. “The immediate results have meant that changes have been made to both Stamp Duty and the amount of tax relief investors can claim, in effect from 2017.
“We want to help all customers looking to invest in bricks and mortar get a foot on the buy-to-let ladder and make their ambition a reality. Which is why we have introduced these new improved offers.”
These buy-to-let mortgages come with free valuation for properties worth up to £2.5m and £250 cashback on remortgages, which must be paid back if the mortgage is paid off within two years.
