Santander UK has today launched a one-year fixed rate Buy-To-Let mortgage product, becoming the first top five mortgage lender in the UK to offer a one-year fixed rate product for landlords. In addition, the lender has announced reductions across its existing Buy-To-Let and Residential fixed and tracker rate mortgage range of up to 0.14%.
The full list of new rates can be found online here.
Graham Sellar, Head of Intermediary Channel as Santander UK said: “We know that the volatile rates this year have made it a tricky market for both customers – and brokers supporting them – with a remortgage or new borrowing. We’re pleased to introduce a one-year fixed rate product to our Buy-To-Let offering, giving landlords certainty of payments, while offering more flexibility than a traditional longer fixed rate.”
Details of Santander UK’s new Buy-To-Let one-year fixed rate product:
- 75% LTV one-year fixed rate Buy-To-Let remortgage at 5.37% with a £1749 fee.
Examples of reductions across Santander’s existing Buy-To-Let range include:
- 60% LTV two-year fixed rate, purchase at 5.29% with a £0 purchase fee, reduced by 0.13%.
- 75% LTV five-year fixed rate, purchase at 4.81% with a £0 purchase fee, reduced by 0.10%.
- 60% LTV two-year fixed rate, remortgage at 4.78% with a £1749 fee – reduced by 0.04%.
- 75% LTV two-year fixed rate, remortgage at 5.43% with a £0 purchase fee – reduced by 0.07%.
Examples of residential two-year fixed rates that have been reduced include:
- 60% LTV two-year fixed rate, purchase at 4.58% with a £999 fee – reduced by 0.06%.
- 75% LTV two-year fixed rate, purchase at 4.98% with a £0 fee – reduced by 0.05%
- 85% LTV two-year fixed rate, remortgage at 5.53% with a £999 fee – reduced by 0.14%
- 90% LTV two-year fixed rate, remortgage at 5.93% with a £999 fee – reduced by 0.10%.
Examples of residential three-year fixed rates that have been reduced include:
- 60% LTV 3-year fixed rate, purchase at 4.53% with a £999 fee – reduced by 0.08%
- 75% LTV three-year fixed rate, purchase at 4.87% with a £0 fee – reduced by 0.10%
- 60% LTV three-year fixed rate, remortgage at 4.60% with a £999 fee – reduced by 0.06%
- 75% LTV three-year fixed rate, remortgage at 4.96% with a £0 fee – reduced by 0.11%
Examples of residential five-year fixed rates that have been reduced include:
- 60% LTV five-year fixed rate, purchase at 4.37% with a £0 fee – reduced by 0.11%
- 95% LTV five-year fixed rate, purchase at 5.41% with a £0 fee and £250 cashback – reduced by 0.05%
- 60% LTV five-year fixed rate, remortgage at 4.38% with a £999 fee – reduced by 0.04%
- 90% LTV five-year fixed rate, remortgage at 5.55% with a £0 fee – reduced by 0.10%
Customers are advised to seek independent advice before selecting a new mortgage product as more flexible products will often carry higher costs.
