Santander for intermediaries will cut its rate for residential and buy-to-let fixed-rate products across its new business and product transfer ranges by up to 20 basis points from tomorrow (22 August).
The high street bank’s broker-only arm adds its new business range, it is introducing new first-time buyer exclusives with £500 cashback and no product fee.
It also launches a range of residential three-year fixes with no product fee, available for purchase and remortgage clients.
It will replace its 2.5-year fixed-rate new build range with new three-year fixes.
The business also debuts BTL options, with a £749 product fee for new business and product transfer clients, alongside no fee, and £1749 product fee options, subject to loan size.
Highlights include:
New business
- Residential fixes reducing by between 2bps and 20bps
- New FTB exclusive fixes, with no product fee, available up to 95% LTV
- New three-year fixed-rate new build exclusive range, with an extended completion deadline. This will replace the existing 2.5-year fixed-rate range
- New residential three-year fixed-rate range, with no product fees, available for purchase and remortgage clients
- Selected BTL fixes reducing by between 4bps and 20bps
- New BTL fixes, with a £749 product fee
Product transfers
- Residential fixes reducing by between 2bps and 15bps
- BTL fixes reducing by between 2bps and 20bps
- New BTL fixed rates, with a £749 product fee
The lender says as this relaunch is within 14 days of Sunday 3 September, it is applying an exception to its cancellation post-acceptance policy.
The bank will allow any pre-booked deals due to start on Sunday 3 September to be cancelled until 10pm on Wednesday 23 August.
This exception provides two days to identify and submit cancellation requests. Requests after this date will be rejected. All other criteria remain unchanged.
The business adds that from tomorrow brokers can log on to its online mortgage transfer service in Introducer Internet to view the new rates. They will not be found on sourcing systems, it adds.
