The updated mortgage rates will be available from 13 May, with rate cuts across its homemover, first-time buyer, new-build, remortgage and buy-to-let (BTL) ranges.
Santander said the “new pricing reflects the recent reduction in swap rates and marks the third reduction in rates from the lender in the past four weeks”.
Within its homemover range, rates will fall by up to 0.15% across two-, three- and five-year fixed rate products.
An example includes its no-fee two-year fixed rate at 95% loan to value (LTV), which has fallen by 0.15% to 4.95%. The deal comes with £250 cashback.
Its three-year fixed rate at 60% LTV with a £999 fee will decrease by 0.05% to 3.94%, and its five-year fixed rate at 60% LTV with a £999 fee will go down by 0.03% to 3.89%.
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In its first-time buyer range, rates will reduce by up to 0.11% across two-, three- and five-year fixed rate products.
The lender’s two-year fixed rate at 60% LTV with a £999 fee will fall by 0.05% to 3.89%, while the firm’s two-year fixed rate with no fee at 95% LTV comes with £250 cashback.
Santander’s three-year fixed rate at 60% LTV with a £999 fee will contract by 0.05% to 3.99% and its five-year fixed rate at the same LTV tier will go down by 0.11% to 3.99%
In its remortgage range, cuts of up to 0.18% across two-, three- and five-year fixed rate products will be made.
This includes its three-year fixed rate at 60% LTV with a £999 fee, which has decreased by 0.18% to 4.01%, and its five-year fixed rate at the same LTV tier will fall by up to 0.06% to 3.92%.
Its two-year fixed rate with no fee at 85% LTV has been reduced by up to 0.13% to 4.86%.
TMW lowers BTL and limited company rates
The Mortgage Works (TMW) will lower selected BTL and limited company products for new and existing customers by up to 0.3%. The new rates will be effective from 10 April.
Within its new business range, the firm’s BTL two-year fixed purchase and remortgage rate at 65% LTV with a 3% fee will fall by 0.2% to 2.79%.
The firm’s BTL two-year fixed remortgage-only rate at 75% LTV with a 3% fee will fall by 0.3% to 3.29%. This comes with a free valuation and free legals.
TMW’s limited company BTL two-year fixed purchase, remortgage and further advance rate at 75% LTV with a 3% fee will fall by 0.1% to 4.14%. The deal also comes with free valuation.
Switcher rate reductions include its two-year fixed BTL rate with no fee at 65% LTV, which will decrease by up to 0.1% to 4.6%.
The firm’s two-year fixed BTL rate with no fee at 75% LTV will go down by 0.1% to 4.79%.
TMW’s two-year fixed limited company BTL rate with no fee has fallen by up to 0.05% to 5.94%.
Joe Avarne, senior manager at TMW, said: “We’re pleased that the current environment means we’re able to support landlords with some further rate reductions on selected mortgages from tomorrow.”
