Santander cuts rates by up to 20 bps and adds cashback

Essex Home Finance
Santander is adding £250 cashback and cutting rates on residential deals.
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Santander is adding £250 cashback to some of its 95% LTV deals and cutting rates on residential deals by up to 20 basis points tomorrow.

The following standard residential rates are reducing:

  • 75% LTV two-year fixed rate at 1.33% with £999 fee – remortgage – rate reduced by 1 basis point
  • 75% LTV two-year fixed rate at 1.38% with £999 fee – purchase – rate reduced by 1 basis point
  • 85% LTV two-year fixed rate at 2.43% with £999 fee – purchase & remortgage – rate reduced by 20 basis points
  • 85% LTV two-year fixed rate at 2.79% with £0 fee – purchase & remortgage – rate reduced by 14 basis points
  • 75% LTV five-year fixed rate at 1.54% with £999 fee – purchase – rate reduced by 3 basis points
  • 85% LTV five-year fixed rate at 2.72% with £999 fee – purchase & remortgage – rate reduced by 13 basis points
  • 85% LTV five-year fixed rate at 2.95 % with £0 fee – purchase & remortgage – rate reduced by 20 basis points
  • 90% LTV five-year fixed rate at 3.35 % with £999 fee – purchase & remortgage – rate reduced by 4 basis points
  • 90% LTV five-year fixed rate at 3.52% with £0 fee – purchase & remortgage – rate reduced by 2 basis points

The following mortgage guarantee scheme products will have £250 cashback added:

  • 95% LTV three-year fixed rate at 3.99% with £0 fee – £250 cashback added
  • 95% LTV five-year fixed rate at 4.09% with £0 fee – £250 cashback added

The following newbuild purchase rates are being reduced:

  • 85% LTV 2.5-year fixed rate at 2.48% with £999 fee – rate reduced by 20 basis points
  • 85% LTV 2.5-year fixed rate at 2.84% with £0 fee – rate reduced by 14 basis points

Santander is withdrawing these exclusive purchase deals:

  • 85% LTV two-year fixed rate at 2.53% with £199 fee
  • 85% LTV five-year fixed rate at 2.85% with £0 fee

Original Article from Mortgage Strategy 17/05/2021

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Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

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