Rates cut again by Santander

Santander have today reduced rates by up to 0.4% across it 4-year fixed term mortgages. This is the sixth time this year that Santander have cut rates.

The new rates are as follows: 4-year fix at 4.49% with a £995 fee, available up to 70% loan-to-value (LTV) available to remortgage (free legals and free valuation) and homebuyer (free valuation and £250 cashback on completion) customers; 4-year fix at 4.99% with no fee, available up to 75% LTV (homebuyer); 4-year fix at 5.29% with no fee, available up to 75% LTV (remortgage).

Santander has also reduced the fee on its 2-year tracker at 4.74% by £500. The product, which is available up to 85% LTV, now has a fee of just £495, reducing the cost even further for borrowers with a smaller deposit.

Phil Cliff, Mortgage Director for Santander commented:

“Our latest rate reductions mean borrowers can take advantage of even more competitive 4-year fixes, ideal for those looking for the peace of mind provided by a longer term fix. Those borrowers wanting the flexibility of a tracker rate and with a smaller deposit, such as first time buyers, can take advantage of the newly reduced fee available on our 2-year tracker.”