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Santander lowers new business and PT rates; Clydesdale cuts rates and adds deals – round-up
Santander has made rate cuts to its residential new business and product transfer ranges and brought out a raft of fresh deals.
On the new business side, select residential purchase-only and remortgage deals have been but by up to 0.12 per cent.
This includes a no-fee two-year fixed purchase-only rate at 5.84 per cent which has gone down by 0.12 per cent to 5.12 per cent.
The lender has introduced a three-year fixed rate deal in this range at 60 per cent LTV with a £999 fee priced at 4.77 per cent.
Tracker purchase and remortgage deal pricing has been cut by 0.15 per cent, with its two-year tracker at 60 per cent LTV and £999 fee falling to 3.94 per cent and at 75 per cent LTV, rates dropped to 4.09 per cent.
Changes have also been applied to new build deals, with its no-fee 2.5-year fixed rate at 50 per cent LTV falling by 0.11 per cent to 5.03 per cent.
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On the product transfer side, residential fixed rates up to 85 per cent LTV have reduced by between 0.05 and 0.12 per cent and residential two-year trackers have gone down by around 0.2 per cent.
The lender reiterated that product transfer rates were tailored to each customer and could not be found on sourcing systems.
Santander added that completion deadlines had been rolled on to 5 June for product transfers, 31 July for purchases and 4 August for remortgages.
Clydesdale brings out products and slashes rates
Clydesdale Bank has released exclusive remortgage deals and fixed rate fee-savers of up to 85 per cent LTV along with rate cuts.
The lender’s exclusive remortgage deal is a five-year fixed rate at 80 per cent LTV with a £1,499 fee priced at 4.39 per cent. It comes with £1,000 cashback and free valuation.
The fixed rate fee-savers at 85 per cent LTV start from 4.89 per cent.
Clydesdale Bank has reduced the rated for selected 75 to 90 per cent LTV fixed rates by up to 0.37 per cent, with pricing beginning from 4.34 per cent.
Professional and newly qualified professional fixed rate deals at 85 and 90 per cent LTV have fallen by up to 0.26 per cent and start from 4.69 per cent.
The lender added that large loan fixed rates from £1 to £2m up to 75 per cent LTV with £1,999 fee have decreased by up to 0.30 per cent, begin from 4.41 per cent.
For large loan deals for £1m and over between 65 and 85 per cent LTV pricing has fallen by around 0.45 per cent, with rates priced from 4.54 per cent.
On the buy-to-let side, fixed rates of between 60 and 75 per cent LTV have fallen by around 0.35 per cent and start from 5.04 per cent.
In its product transfer range Clydesdale Bank has cut fixed rates between 65 and 95 per cent LTV with £499 fee by up to 0.45 per cent, with rates beginning from 4.19 per cent.
Fee-saver deals between the same LTV tiers have fallen by 0.3 per cent and prices start from 4.39 per cent.
Professional and newly qualified professional fixed rates from 85 to 90 per cent LTV have been reduced by up to 0.26 per cent and are priced from 4.69 per cent.
Exclusive fixed rate deals for loans from £1m to £2m up to 75 per cent LTV with a £999 fee have been reduced by up to 0.3 per cent, starting from 4.41 per cent.
Deals for loans of £1m over between 65 and 85 per cent LTV fixed rates have fallen by up to 0.45 per cent, offered from 4.54 per cent.
Buy-to-let fixed rates between 60 and 75 per cent LTV have decreased by up to 0.35 per cent and start from 5.04 per cent.