Santander for Intermediaries cuts rates on new business and product transfers – Mortgage Strategy
Santander for Intermediaries will reduce rates on most residential new business rates by between 0.02% and 0.50%, effective tomorrow (21 February).
The lender’s lowest on-sale five-year remortgage fixed rate will be 3.99% at 60% loan-to-value (LTV) with a £999 fee.
The biggest reduction is on the 60% three-year fix with a new rate of 4.44% and a fee of £999.
The changes will also see buy-to-let (BTL) new business reductions of up to 0.30% plus the introduction of £0 product fee options.
The 75% LTV two-year fixed will have a new rate of 5.19% and a fee of £1,499 while the same product over five years will have a new rate of 5.05%.
The lender says it will withdraw Help to Buy equity loan rates ahead of purchases under this scheme needing to complete by 31 March 2023.
For product transfers, most residential fixed rates will reduce by between 0.02% and 0.19% and BTL rates by up to 0.30%.
Santander for Intermediaries will also introduce some new seven-year fixed rates with a £0 product fee.
Meanwhile, residential two-year trackers at 75% LTV and under will also reduce by 0.05%.
It notes that product end dates and completion deadlines will roll on by one month.