Tomorrow (26 April) Santander is launching a range of new buy-to-let remortgages.
The bank will be introducing three new fixed rates for first time buyers across a range of loan to values (LTVs); a new five year fixed rate product for purchase and remortgage and rate cuts of up to 0.3 percentage points on a selection of existing fixed rate products.
Buy-to-let – new
- 60% LTV, two-year fixed buy-to-let 2.29% with zero product fee, free standard valuation, £250 cashback on completion, remortgage only.
- 60% LTV, five-year fixed buy-to-let 2.45% with £1999 product fee, free standard valuation, £250 cashback on completion, remortgage only.
- 75% LTV, two-year fixed buy-to-let 2.59% with zero product fee, free standard valuation, £250 cashback on completion, remortgage only.
- 75% LTV, five-year fixed buy-to-let 3.04% with £1999 product fee, free standard valuation, £250 cashback on completion, remortgage only.
Residential – new
- 80% LTV five year fixed 2.49% with zero product fee, available on purchase and remortgage with £250 cashback on completion
- First-time buyer: 60% LTV, two-year fixed 1.59% with zero product fee and £250 cashback on completion
- First-time buyer: 75% LTV, five-year fixed 2.29% with zero product fee and £250 cashback on completion
- First-time buyer: 85% LTV, five-year fixed 2.59% with zero product fee and £250 cashback on completion
Residential – amended
- 60% LTV, two-year fixed 1.19% with £999 product fee, purchase and remortgage
- 60% LTV, five-year fixed 1.84% with £999 product fee, purchase and remortgage, £250 cashback
- 75% LTV, five-year fixed 2.04% with £999 product fee, purchase and remortgage
- 80% LTV, five-year fixed 2.14% with £999 product fee, purchase and remortgage, £250 cashback
- 85% LTV, five-year fixed 2.29% with £999 product fee, purchase and remortgage, £250 cashback
- 85% LTV, five-year fixed 2.69% with zero product fee, purchase and remortgage, £250 cashback
- 90% LTV five-year fixed 2.94% with £999 product fee, purchase and remortgage, £250 cashback
- 90% LTV, five-year fixed 3.24% with zero product fee, purchase and remortgage, £250 cashback
Miguel Sard, managing director of mortgages at Santander UK, said: “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.
“We are also excited to be introducing a highly competitive range of new mortgages and rate reductions designed to provide additional choice and value for customers across the residential market.”
In addition, Santander 1|2|3 Current Account customers who pay their monthly Santander mortgage payment by direct debit will receive 1% cashback on maximum monthly mortgage payments of up to £1,000.