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Santander lowers new business and PT rates

  • 03/08/2023
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Santander lowers new business and PT rates
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. 

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