Santander issues urgent message to customers who 'live in new build homes'

Santander has issued a message to customers who live in new-build houses. Santander UK has made the decision to make reductions of up to 0.36% to all standard residential fixed rates across its purchase, remortgage, green mortgage, new build and buy-to-let ranges.

The bank says rates are now starting from 3.85%. Examples of residential remortgage rates that have been reduced include a 60% LTV two-year fixed rate residential remortgage with a £999 product fee is now priced at 4.09%, down from 4.19%, and 85% LTV two-year fixed rate residential remortgage with £999 product fee is now priced at 4.89%, down from 5.19%.

Other rates are 75% LTV three-year fixed rate residential remortgage with no product fee is now priced at 4.54%, down from 4.84% and 60% LTV five-year fixed rate residential remortgage with £999 product fee is now priced at 3.95%, down from 4.05%.

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Examples of residential purchase rates that have been reduced include 60% LTV two-year fixed rate residential purchase mortgage with £999 purchase fee is now priced at 3.96%, down from 4.12%, 95% LTV two-year fixed rate residential purchase mortgage with no purchase fee and £250 cashback is now priced at 5.57%, down from 5.83%, 75% LTV three-year fixed rate residential purchase mortgage with a £999 purchase fee is now priced at 4.11%, down from 4.27%, and 60% LTV five-year fixed rate residential purchase mortgage with a £999 purchase fee is now priced at 3.87%, down from 3.95%.

Examples of new build rates that have been reduced include 60% LTV 3-year fixed rate new build exclusive purchase with a £999 purchase fee is now priced at 3.92%, down from 4.08%, and 95% LTV 3-year fixed rate new build exclusive purchase with no purchase fee and a £250 cashback is now priced at 5.42%, down from 5.78%.

Examples of green mortgage rates that have been reduced include a 60% LTV two-year fixed rate green remortgage with a £999 product fee is now priced at 3.99%, down from 4.09%. Examples of buy-to-let rates that have been reduced include a 75% LTV two-year fixed rate buy-to-let remortgage with a £1749 product fee is now priced at 4.46%, down from 4.66%.

Graham Sellar, Head of Mortgage Development at Santander, said: “With some uncertainty in the market around mortgage pricing, it’s great to be able to offer borrowers access to lower rates across all of our residential, new build and buy-to-let mortgage products. We look forward to helping even more customers on their house buying or remortgage journeys.”