Mortgage Strategy - Santander lowers FTB fixes by up to 0.32%

Santander has reduced rates across all its 85% to 95% loan-to-value (LTV) first-time buyer products by up to 0.32%.

The reductions include first-time buyer rates starting from 3.92%, with a market leading 95% LTV, five-year fixed at 4.72% with no fee and 85% LTV, five-year fixed at 4.17% with £999 fee.

Trinity Financial product and communications director Aaron Strutt says: “Santander is making a real mixture of rate changes with some big price improvements for first-time buyers.”

“The bank has been offering many of the lowest fixed rates on the market for a while, so price rises were always going to come even though Nationwide cut its rates today.

“There have been some really competitively priced mortgages to choose from despite the rate increases we have seen over the last few weeks.

“The best buys now include Nationwide’s 3.54% two-year fixed rate and 3.69% three-year fix. HSBC for Intermediaries is offering five-year fixes starting from 3.79%.”

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