Santander cuts H2B equity loan and zero fee mortgage rates

Santander has reduced rates on its 75 per cent LTV Help to Buy equity loan products by 0.15 per cent.

The lender is also reducing rates on selected zero fee fixed mortgage deals.

The changes are as follows:

Reductions in Help to Buy Equity Loan products:

  • 75 per cent LTV 2 – year fixed 1.39 per cent, with £999 product fee, purchase
  • 75 per cent LTV 2.5 – year fixed 1.49 per cent, with £999 product fee, purchase
  • 75 per cent LTV 2.5 – year fixed 1.89 per cent, with zero product fee, purchase
  • 75 per cent LTV 5 – year fixed 2.44 per cent, with £999 product fee, purchase
  • 75 per cent LTV 5 – year fixed 2.69 per cent, with zero product fee, purchase

Changes to zero fee fixed range products:

  • 60 per cent LTV 2 – year fixed 1.54 per cent, zero product fee, purchase and remortgage
  • 60 per cent LTV 5 – year fixed 1.99 per cent, zero product fee, purchase and remortgage
  • 75 per cent LTV 2 – year fixed 1.64 per cent, zero product fee, purchase and remortgage
  • 75 per cent LTV 5 – year fixed 2.29 per cent, zero product fee, purchase and remortgage
  • 75 per cent LTV 5 – year fixed 2.19 per cent zero product fee, for First Time Buyer

Santander UK managing director Miguel Sard says: “By reducing the rates in our Help to Buy: Equity Loan product range, we hope to enable more first-time buyers get a foot on the housing ladder. For home movers and those wanting to take the next step, we know that added costs can mount up, which is why we have made the changes to our range to reflect this.”

The bank has also launched a ‘market-leading’ exclusive of a 5 year fix at 1.89 per cent at 75 per cent LTV for direct-only customers applying online.