Santander is reducing fixed rates across all its residential and buy-to-let new business products by up to 0.39 per cent from 4 August.
All purchase and remortgage fixed rates will fall by between 0.07 per cent and 0.25 per cent, while buy-to-let rates will reduce by between 0.09 per cent and 0.29 per cent.
The lender will also be pulling its products which are exclusively for Santander mortgage borrowers who are moving home.
Across its product transfer range, residential fixed rates are also reducing by between 0.07 per cent and 0.25 per cent. Buy-to-let product transfer rates are being cut by between 0.06 per cent and 0.2 per cent.
Selected tracker product transfer rates will fall by up to 0.6 per cent.
Response to base rate change
Reacting to the Bank of England putting the base rate up to 5.25 per cent today, Santander will increase the rate of its tracker products by 0.25 per cent from the beginning of September. The follow-on rate will see the same uplift to 8.5 per cent.
However, Santander will keep its standard variable rate at 7.5 per cent.
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
