Mortgage Strategy - Santander makes sweeping rate cuts of up to 17bps

Santander is making sweeping cuts of up to 17 basis points to fixed rates across its new business and product transfer ranges, including buy-to-let and residential deals.

The bank is lowering rates tomorrow, following price cut announcements by other major lenders, Halifax and HSBC, in recent days.

Trinity Financial product and communications director Aaron Strutt says: “More of the big lenders have been lowering mortgage rates to attract borrowers and bring a bit more life into the property market over the last few days.

“Barclays, Coventry Building Society, Halifax, HSBC, NatWest and now Santander have all improved their pricing as competition ramps up to attract home buyers and the £154bn worth of remortgaging home owners coming up for renewal between July and December this year.

“Two-year fixed rate mortgages start from 4.35% and there are two banks offering sub-4% tracker rates. There are also five-year fixes starting from 4.45%."

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The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

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