Rate drops by Santander of up to 26 basis points

Cuts have been made by Santander to a selection of products across all LTVs and added cashback to some higher-LTV products.

Withing Santander’s 2 year products, a few cuts include the 75% LTV purchase product with a zero fee being reduced by 23 basis points to give a rate of 1.96%.

At an 85% LTV, the 2 year fix for purchase with £999 fee has had a cut of 12 basis points giving it a rate of 2.67% as well as adding a  £250 cashback, and the 2 year fix with zero fee for purchase and remortgage has a 21 basis points cut, offering a rate of 2.93%.

At 90% LTV, the purchase product with £999 fee has a 26 basis points cut to giving the rate of 3.29% and has added £250 cashback, and the zero fee option has had 15 basis points removed, giving a rate of 3.59%. This, too, now offers £250 cashback.

For the 5 year fixes, the 85% LTV purchase product has a 14 basis points cut, meaning the mortgage is now at 2.90%. It has also had £250 cashback added.

And the 90% LTV fix with £999 fee for purchase has a 11 basis points chopped off, giving a fee of 3.49%. The zero fee version, meanwhile, has received a 10 basis point cut to offer 3.69%.

Both the 90% LTV products mentioned above also offer £250 cashback, too.