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.