For new borrowers, select residential remortgage rates will be cut by up to 0.17 per cent, meaning five-year fixes with no fee now start from 4.03 per cent and two-year fixes with no fee begin from 4.49 per cent.
The lender’s buy-to-let rates have been reduced by up to 0.2 per cent, such as a five-year fix for purchase and remortgage which starts from 4.37 per cent with a £1,749 fee or 5.04 per cent with no fee.
Across the two-year fixed option, rates for corresponding products are 4.99 per cent and 5.39 per cent respectively.
Santander will also introduce new buy-to-let rates to its range.
Across its product transfer range, residential rates with no fee will be cut by up to 0.17 per cent and all residential lifetime tracker rates will reduce by 0.3 per cent.
Buy-to-let rates at 75 per cent loan to value (LTV) and under will be cut by at least 0.2 per cent, including the five-year fix at 60 per cent LTV which has gone down by 0.62 per cent to 4.37 per cent. This has a £1,479 fee, which has been increased by £250.
New rates apply from 19 April.
Graham Sellar, head of business development, mortgages at Santander said: “We’re pleased to announce our latest commitment to supporting landlords and existing homeowners, providing them with more flexibility and options.
“Spring and the new tax year is traditionally a period when many landlords are reviewing how they want to manage and grow their portfolios, so we want to provide them with more choice to suit whatever their future portfolio strategies are.”
