Santander launches new sub-1% deals amid rate reductions of up to 0.60%

Santander is reducing rates across its residential and buy-to-let mortgage ranges by up to 0.60% launching new sub-1% purchase and remortgage products.

Available from tomorrow, new purchase products include two-year fixed rates at 0.89% up to 60% LTV and 1.04% up to 75% LTV, while new five-year fixes start at 0.99% up to 60% LTV and 1.19% up to 75% LTV. All products come with a £999 fee and £250 cashback.

New intermediary exclusive remortgage products include three-year fixed rates at 0.93% up to 60% LTV and 1.11% at 75% LTV, both with a £999 fee.

Across Santander’s existing residential range, rates have reduced by up to 60bps. The largest reduction is to a two-year fix at 90% LTV, reduced to 2.50% with no fee and £250 cashback. A five-year fixed rate at 90% LTV has also been reduced by 50bps to 2.99% with no fee and £250 cashback.