Santander lowers resi and BTL rates; TMW cuts rates – round-up

In its new business range, selected standard residential fixed rates are falling by between 0.03 per cent  and 0.32 per cent.

Selected new build exclusive fixed rates are being cut by between 0.15 per cent and 0.20 per cent.

All large loan fixed rates are reducing by 0.15 per cent and selected buy-to-let fixed rates are decreasing by between 0.03 per cent and 0.18 per cent.

On the product transfer side, selected residential fixed rates are falling between 0.03 per cent and 0.3 per cent and selected buy-to-let fixed rates are decreasing by between 0.03 per cent and 0.18 per cent.

New business and product transfer completion deadlines will roll on by one month.

TMW slashes rates

TMW is lowering rates for new and existing customers by up to 0.4 per cent with pricing beginning from 4.19 per cent.

In its new customer range, its two-year fixed rate for purchase and remortgage at 65 per cent LTV has fallen by 0.15 per cent to 4.19 per cent.

The lender’s two-year fixed purchase and remortgage rate at 75 per cent LTV will fall by 0.15 per cent.

The firm’s five-year fixed purchase and remortgage rate will decrease by 0.2 per cent to 4.54 per cent.

The products above come with a three per cent fee.

TMW is also reducing rates for new customers by up to 0.40 per cent on its large portfolio and let-to-buy ranges.

The company is also cutting rates by up to 0.2 per cent on the green further advance products, existing buy-to-let customer rates by up to 0.25 per cent large portfolio product by up to 0.2 per cent.

Houses in multiple occupation (HMO), large portfolio HMO, limited company HMO products are going down by up to 0.30 per cent.

Daniel Clinton, head of buy-to-let mortgages at TMW, said: “These latest rate cuts are focused on ensuring we are supporting all types of landlords and their needs, and follows on from last week’s reductions for HMO and Limited Company landlords.

With rates starting from 4.19 per cent TMW offer some of the most competitive rates in the market which we hope demonstrates our continued commitment and support for the sector.”