Santander will reduce the majority of its new business fixed rates by up to 0.28 per cent, selected tracker rates by around 0.34 per cent, and has added a sub-four per cent purchase deal.
The changes come into force from tomorrow.
The lender is bringing out a five-year fixed purchase rate at 60 per cent loan to value (LTV) with a £999 fee at 3.99 per cent.
Santander said this was its lowest on-sale fixed rate along with its current remortgage version. It added that its fee-fee five-year fixed rate at the same LTV had been withdrawn.
On the new business side, residential purchase deals up to 95 per cent LTV and remortgage deals going up to 90 per cent LTV will be reduced by around 0.28 per cent.
This includes its five-year fixed residential purchase rate with no fee at 75 per cent falling by 0.28 per cent to 4.15 per cent.
Its two-year fixed residential remortgage deal with £999 fee at 90 per cent LTV will decrease by 0.11 per cent to 5.09 per cent.
New build deals between 60 and 85 per cent LTV have also been cut. Its 2.5 year fixed rate with no fee at 85 per cent LTV will reduce by 0.26 per cent to 4.89 per cent.
Tracker rates will fall by up to 0.34 per cent, and select residential fixed rates in its product transfer range will decrease by up to 0.11 per cent.
Santander said the completion deadline for product transfers was 5 August, 29 September for purchases and 6 October for remortgages.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
