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Santander announces further cuts to mortgage rates

16 July 2025

Santander UK has announced that, from today, Wednesday 16 July, it is making further rate reductions across its home movers, first-time buyer, new build, remortgage and buy to let ranges.

The new pricing reflects the recent reduction in SWAP rates and marks the second reduction in the last fortnight.

Santander’s two-year fixed rate first time buyer products now start from 3.84%, while two-year buy to let and home mover fixed rates start from 3.79%.

The new pricing is available to all customers, whether they are applying via a broker or directly, under Santander’s “no dual pricing” pledge to brokers.

Home mover

Rates reduced by up to 0.17% across two, three, five and ten-year fixed-rate products, including:

90% LTV 2 year fixed rate with a £999 fee and £250 cashback. Rate reduced by 0.17% to 4.30%.
85% LTV 3 year fixed rate with a £0 fee and £250 cashback. Rate reduced by 0.16% to 4.52%.
60% LTV 5 year fixed rate large loan with a £1,999 fee. Rate reduced by 0.10% to 4.08%.
85% LTV 5 year fixed rate with a £0 fee and £250 cashback. Rate reduced by 0.11% to 4.24%.

First-time buyer

Rates reduced by up to 0.23% across two, three, five and ten-year fixed rate products, including:

60% LTV 2 year fixed rate with a £999 fee. Rate reduced by 0.17% to 3.84%.
60% LTV 2 year fixed rate with a £0 Rate reduced by 0.18% to 4.13%.
85% LTV 3 year fixed rate with a £0 fee and £250 cashback. Rate reduced by 0.17% to 4.53%.
95% LTV 5 year fixed rate with a £0 fee and £250 cashback. Rate reduced by 0.15% to 4.70%.

Remortgage

Rates reduced by up to 0.23% across two, three, five and ten-year fixed rate products, including:

60% LTV 2 year fixed rate large loan with a £1,999 fee. Rate reduced by 0.10% to 4.20%.
75% LTV 3 year fixed rate with a £999 fee. Rate reduced by 0.13% to 4.06%.
60% LTV 5 year fixed rate large loan with a £1,999 fee. Rate reduced by 0.10% to 4.08%.
60% LTV 10 year fixed rate with a £0 fee. Rate reduced by 0.23% to 4.54%.

Buy to Let

Rates reduced by up to 0.21% across two and five-year fixed rate products, including:

BTL Purchase:

60% LTV BTL 2 year fixed rate with a £1,749 fee. Rate reduced by 0.20% to 3.79%.
75% LTV BTL 2 year fixed rate with a £1,749 fee. Rate reduced by 0.21% to 3.94%.
60% LTV BTL 5 year fixed rate with a £1,749 fee. Rate reduced by 0.14% to 3.98%.

BTL Remortgage:

60% LTV BTL 2 year fixed rate with a £1,749 fee. Rate reduced by 0.11% to 3.90%.
65% LTV BTL 2 year fixed rate with a £1,749 fee. Rate reduced by 0.15% to 3.95%.
65% LTV BTL 5 year fixed rate with a £1,749 fee. Rate reduced by 0.05% to 4.08%.

Alongside the new rates, customers remortgaging with Santander can opt for free legal support from the lender’s panel of solicitors or receive £250 cashback paid to the conveyancer on completion of the mortgage.

More information on remortgaging with Santander can be found online: Remortgage Your Home | Compare Deals Online | Santander UK