The bank has lowered rates at 60% and 75% loan to value (LTV) for homemovers on both two- and five-year terms with a £1,999 fee and a minimum loan of £500,000.
After reductions of up to 0.03%, selected five-year fixed deals between 75% and 90% LTV have rates starting from 3.65%.
For remortgage borrowers, selected two-year deals between 60% and 90% LTV now begin at 3.69% after reductions of up to 0.07%, and selected three-year fixed rates between 60% and 75% LTV have been reduced by up to 0.02% and start at 3.78%.
Elsewhere, selected five-year fixed remortgages between 60% and 90% LTV have been cut by as much as 0.12% and start from 3.71%.
For homemovers buying a new-build property, selected five-year fixed rates between 75% and 90% LTV have been cut by up to 0.03% and start at 3.99%, while for first-time buyers purchasing a new build, all two-year fixes at 85% and 90% have been cut by up to 0.15% and start at 4.06% and all five-year fixed rates at 85% LTV have been reduced by up to 0.05% and start at 4.19%.
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Santander has also reduced buy-to-let (BTL) rates, and all two-year fixes between 60% and 75% LTV have been reduced by up to 0.08% and start from 3.74%, while similar cuts have been made to all five-year fixes at the same tiers and start from 3.93%.
For BTL remortgage, all two-year fixes between 65% and 75% LTV have been reduced by up to 0.08% and start at 3.82%, while all five-year fixes between 60% and 75% LTV have been lowered by as much as 0.09% and start at 3.85%.
The rates will be effective from 9 December, and the same pricing is available both through a broker or directly, as part of its no dual pricing pledge.
Santander noted that it intended to enter 2026 with rates as low as 3.51%, a significant reduction from the 4.07% rate it had in January.
Graham Sellar, head of Santander for Intermediaries, said: “2025 has been the year of the buyer, with rate reductions and affordability improvements helping more buyers take that first step onto or move up the property ladder. We’re pleased that our final rate change of 2025 continues this positive trend for buyers with reductions across the board and our lowest on sale rate of the year to support buyers into January with a new year, new home hunt.”
