Santander cuts BTL rates and launches low-LTV range
Santander has reduced two-year fixed buy-to-let rates, including a 60% LTV now at 1.94% and a 75% LTV at 2.29%, both with a 1% product fee.
The Bank has also launched a range of fixed rate, low LTV products along with a high LTV first time buyer exclusive – a 90% LTV two-year fix at 2.44%.
Highlights of the low-LTV range include a ten-year fix from 2.79% at 60% LTV.
Five-year fixed rates include a 2.09% at 60% LTV and a 75% LTV from 2.29%, available from purchase and remortgage.
Santander’s two-year fixed rates now start from 1.34% at 60% LTV.
In addition, purchase fixed products at 80, 85 and 90% LTV now come with added £250 cashback payable on completion.
In line with changing market conditions, selected tracker rates have also been revised.
Tracker rates are now available from 1.44% at 60% LTV, 1.54% at 75% LTV and 1.79% at 85% LTV.
Miguel Sard, Managing Director of Mortgages at Santander, said: “With house-hunting set to resume in earnest in September and with more customers than ever wanting certainty over their monthly mortgage repayments, we have designed a competitive range of fixed rate products, giving our customers the peace of mind that they have locked into a competitive rate for a set period.
“Our new products are designed to support all areas of the market, whether people are looking to buy for the first time, move up the housing ladder or invest in property”