Santander is reducing rates on 230 mortgage products by up to 25 basis points, aligning with major lenders’ industry-wide repricing as competition heats up and borrowing costs shift for homebuyers and investors.
Santander is trimming rates on 230 mortgage products from Tuesday, with cuts of up to 25 basis points across residential and buy-to-let deals. The move comes amid a run of repricing by major lenders this week, with NatWest, Nationwide and Barclays all lowering selected rates while Halifax has gone the other way and lifted some of its pricing.
Among Santander’s sharpest reductions is a 90% loan-to-value two-year fixed rate for first-time buyers with a £999 fee and £250 cashback, which falls from 5.14% to 4.89%. The fee-free version of that deal drops by the same margin, from 5.39% to 5.14%, while a 95% LTV 10-year fixed for home movers with no fee and £250 cashback is cut from 5.95% to 5.7%.
Other notable changes include an 85% LTV two-year fixed for first-time buyers with a £999 fee and £250 cashback, which falls by 24 basis points from 5.07% to 4.83%. Its fee-free equivalent is reduced from 5.32% to 5.08%. Santander’s buy-to-let range will also be cheaper, with reductions of between 5 and 13 basis points across the book.
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