Santander has added a pair of remortgage deals at 60 per cent loan to value (LTV), dropping its sub-one per cent 0.89 per cent mortgage rate yet further.
The options now comprise a two-year fixed rate remortgage at 0.84 per cent, and a five-year fixed option at 0.99 per cent. Both have a £749 fee.
This will replace the previous offering at 60 per cent LTV which was priced at 0.89 per cent and 0.99 per cent respectively.
The two-year fixed remortgage product at 75 per cent LTV with a rate of 0.99 per cent has also seen its fee reduced from £999 to £749.
Additionally, the bank has cut rates by up to 0.20 per cent across purchase and remortgage deals.
This includes the two-year fixed purchase product at 85 per cent LTV, which has gone down from 1.85 per cent to 1.70 per cent. There is also the fee-free alternative, which has declined from 2.19 per cent to 2.09 per cent.
The mortgage guarantee products at 95 per cent LTV have been cut from 3.4 per cent to 3.2 per cent for a two-year fixed rate, and reduced from 3.6 per cent to 3.45 per cent for a five-year fixed rate.
Santander has also cut rates on its residential product transfers up to 75 per cent LTV by as much as 0.20 per cent. Additionally, some product transfer fees have been reduced by £250.
Changes come into effect from 9 September.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
