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Santander cuts select residential purchase, new build and remortgage rates by up to 0.26 per cent

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  • 11/06/2021
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Santander cuts select residential purchase, new build and remortgage rates by up to 0.26 per cent
Santander for Intermediaries has reduced the rates on 18 products across residential purchase, new build and remortgage products.

 

The changes will come into effect on Monday, and the lender has also withdrawn its five-year fixed intermediary exclusive at 75 per cent loan to value (LTV), which had a rate of 1.52 per cent and a £1.249 fee.

The lender has cut a range of its two-year fixed rates across, 60 per cent, 75 per cent, 85 per cent and 90 per cent LTV on purchase, remortgage, and purchase and remortgage products.

The rate for its two-year fixed purchase product at 60 per cent LTV will be reduced by 0.03 per cent to 1.1 per cent, whilst its two-year fixed 75 per cent LTV remortgage product has been cut by 0.06 per cent to 1.27 per cent.

The rate for its two-year fixed purchase at 75 per cent LTV has been cut by 0.09 per cent to 1.29 per cent.

Its two-year fixed at 85 per cent LTV for remortgage has also been cut by 0.04 per cent to 2.39 per cent, whilst the rate for its two-year fixed at 85 per cent LTV for purchase has been reduced by 0.14 per cent to 2.29 per cent.

All of the above products are subject to a £999 fee.

Simultaneously, its two-year fixed at 85 per cent LTV for purchase and remortgage have been reduced by 0.15 per cent to 2.64 per cent. It is not subject to a fee.

Both its two-year fixed at 90 per cent LTV purchase and remortgage products have been cut, with its £999 fee product falling 0.26 per cent to 2.83 per cent and its fee-less product has been decreased by 0.2 per cent to 3.1 per cent.

On the five-year fixed side cuts have been made on 75 per cent, 85 per cent and 90 per cent LTV across purchase and purchase and remortgage products.

The rate at 75 per cent LTV purchase product has been cut by 0.09 per cent to 1.54 per cent, the rate at 85 per cent LTV purchase and remortgage has been decreased by 0.04 per cent to 2.68 per cent.

The lender has also cut the rate of its five-year fixed at 90 per cent LTV purchase and remortgage by 0.05 per cent to 3.3 per cent.

All of the above are subject to a £999 fee.

For its five-year fixed at 85 per cent LTV for purchase and remortgage has been reduced by 0.09 per cent to 2.86 per cent. It is not subject to a fee.

Both its three and five-year fixed rate mortgage guarantee scheme products for purchase and loyal movers have been reduced by 0.06 per cent and 0.16 per cent respectively to 3.93 per cent. They are not subject to a fee.

The lender has also cut the rates on its intermediary purchase exclusive products, with the two-year fixed at 70 and 75 per cent LTV being cut by 0.05 per cent to 1 per cent and 1.24 per cent respectively. The products are subject to a £1,249 fee.

Both its two and a half year fixed new build fee-less and £999 fee products at 85 per cent LTV have been cut. Its £999 fee product has been cut by 0.14 per cent to 2.34 per cent, whilst its fee-free product has been reduced by 0.15 per cent to 2.69 per cent.

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