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Santander lowers purchase rates by up to 0.2 per cent
Santander has reduced fixed rates for select residential purchase mortgage up to 90 per cent loan to value (LTV) by up to 0.2 per cent, with sub-four per cent deals available.
On the two-year fixed rate side, Santander has cut its fixed rate residential purchase deal at 60 per cent LTV from 4.25 per cent to 4.2 per cent.
Its two-year fixed rate at 75 per cent LTV has dropped from 4.35 per cent to 4.3 per cent.
The lender’s two-year fixed rate at 90 per cent LTV has gone down from 4.94 per cent to 4.89 per cent.
Santander has lowered its five-year fixed rate at 60 per cent LTV from 4.04 per cent to 3.94 per cent.
Its five-year fixed rate at 75 per cent LTV has fallen from 4.24 per cent to 4.14 per cent and at 90 per cent LTV the decrease is from 4.84 per cent to 4.64 per cent.
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Santander is the latest high street lender to change rates, with HSBC lowering select residential and buy-to-let rates by up to 0.45 per cent yesterday. The lender also increased some rates slightly.
Last week, Halifax lowered select homebuyer deals but upped other rates, such as select remortgage, product transfer and further advance deals.
The latest financial results from high street lenders, with the latest so far including Virgin Money and TSB, indicate that firms are feeling more confident about the outlook for the market, with both saying they expect an uptick in activity and falls in pricing.