Santander launches buy-to-let remortgage range

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Santander is launching a range of buy-to-let remortgages from 26 April 2017 with rates starting from 2.29 per cent.

The 2.29 per cent rate is available on a two-year fixed loan at 60 per cent LTV. The mortgage has no product fee, free standard valuation and £250 cashback on completion.

The buy-to-let remortgage range includes a 2.45 rate on a five-year fix at 60 per cent LTV.

The loan has a £1999 product fee, free standard valuation and £250 cashback on completion.

The lender’s new range also incorporates a 2.59 per cent rate on a two-year fix at 75 per cent. This loan has no product fee, free standard valuation and £250 cashback on completion.

Finally, the remortgage range includes a 3.04 per cent rate on a five-year fixed rate loan at 75 per cent with £1999 product fee, free standard valuation and £250 cashback on completion.

Alongside this, the bank will be introducing three new fixed rates for first time buyers.

These are:

* Two-year fixed at 1.59 per cent and 60 per cent LTV, no product fee and £250 cashback on completion

* Five-year fixed at 2.29 per cent and 75 per cent LTV with no product fee and £250 cashback on completion

* Five-year fixed mortgage at 2.59 per cent and 85 per cent with zero product fee and £250 cashback on completion

The lender has also brought in a new five-year fixed rate residential mortgage at 2.49 per cent and 80 per cent LTV. The loan has no product fee and is available on purchase and remortgage with £250 cashback on completion.

Finally, Santander has made a  number of cuts to its residential rates. These have been cut 0.4 per cent on some lines, with rates starting at 1.19 per cent for a 60 per cent LTV, two-year fixed loan with £999 product fee for purchase and remortgage.

Santander UK managing director of mortgages Miguel Sard says: “Following our announcement a couple of weeks ago about our new affordability approach for buy-to-let customers, we are very pleased to now introduce some market leading remortgage rates to further support this important sector of the market.”