Santander pares back remortgage rates

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Santander has cut rates by up to 0.20 per cent on the fixed rate remortgages in its 60, 75 and 85 per cent LTV fee-free range.

The lender says the changes are meant to help those looking to remortgage before the end of the year.

The lender has cut rates by 0.15 per cent on its two-year fixed rate at 60 per cent LTV. The rate is now 1.39 per cent.

At 75 per cent LTV, Santander is selling a two-year fixed rate at 1.44 per cent, a drop of 0.20 per cent.

The lender has also cut rates by 0.05 per cent to 1.69 per cent on its 85 per cent LTV two-year fixed rate option.

Santander has reduced rates on its five-year fixed remortgage at 60 per cent LTV by 0.20 per cent to 1.79 per cent.

The lender has also cut rates by 0.20 per cent on its five-year fix at 85 per cent LTV. The new rate is 2.29 per cent.

The firm has also brought in a five-year fix at 75 per cent LTV, with a rate of 1.94 per cent.

Santander is also launching a two year fixed rate online exclusive.

The product is a 1.09 per cent loan at 75 per cent LTV with a £1499 product fee.

Santander UK managing director of mortgages Miguel Sard says: “These new products are designed to support customers looking to remortgage and lock in to a lower rate.

“Not only are they market-leading, they also come with the added benefit of having no upfront product fee.”

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