Article Summary
Santander UK has announced mortgage rate reductions of up to 0.19%, introducing sub-4% loans to over 60 products across different ranges, effective from 20 May. The rate cuts apply to home mover, first time buyer, remortgage, and buy-to-let products. Some rate examples include a 0.09% reduction for a 60% LTV two-year fixed rate and a 0.13% reduction for a 90% LTV five-year fixed rate for home movers. For first-time buyers, the 60% LTV two-year fixed rate with a £0 fee has been reduced by 0.05%, and the 85% LTV two-year fixed rate with a £0 fee and £250 cashback has been reduced by 0.11%. These cuts follow reductions announced earlier today by Virgin and TSB.
What This Means for You
- If you’re planning to buy a home, you may have access to more affordable mortgage options from Santander UK.
- First-time homebuyers can benefit from reduced rates on select Santander UK mortgage products, making homeownership more attainable.
- Existing homeowners looking to remortgage may want to explore the new rates offered by Santander UK to potentially lower their monthly payments.
- Keep an eye on the mortgage market as other lenders may follow suit and announce their own rate reductions.
Original Post
Santander UK has confirmed mortgage rate reductions of up to 0.19%, introducing further sub-4% loans, to more than 60 products with effect from 20 May.
The rate cuts apply to products across its home mover, first time buyer, remortgage and buy-to-let ranges.
Rate examples include:
- For home movers: 60% LTV two-year fixed rate, £999 fee, rate reduced by 0.09% to 3.80% and 90% LTV five-year fixed rate, £0 fee and £250 cashback, rate reduced by 0.13% to 4.49%.
- For first-time buyers: 60% LTV two-year fixed rate with a £0 fee, rate reduced by 0.05% to 4.13%; 85% LTV two-year fixed rate with a £0 fee and £250 cashback, rate reduced by 0.11% to 4.47% – currently top of market1
- For remortgage: 60% LTV two-year fixed rate with a £0 fee, rate reduced by 0.19% to 4.13%; and 75% LTV five-year fixed rate with a £999 fee, rate reduced by 0.09% to 3.98%
These cuts follow reduction announced earlier today by
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