Santander announces rate reductions across higher LTV first-time buyer products – with new top of market rate at 95% LTV
13 February 2026
Santander has announced that from Tuesday 17 February, it is reducing rates across all its 85%-95% LTV first-time buyer products by up to 0.32%.
The reductions – part of a broader pricing reduction across selected residential mortgage products – will see Santander’s 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.
Santander is also reducing rates across its range of New Build first-time buyer exclusives with rates being cut by up to 0.32%, starting from 3.92%.
The newly reduced rates are available to customers applying via broker or directly, under Santander’s ‘no dual pricing’ pledge.
David Morris, Director of Homes Santander UK said:
“We’re going into 2026 with a renewed focus on supporting first-time buyers in a balanced and responsible way, with recent applications for our newly launched My First Mortgage showing there is real demand in the market for creative support from lenders.
“But we can’t forget the basics, and we’re pleased to introduce this suite of mortgage rate reductions across our range of higher LTV lending, the latest advancement in our goal of helping first-time buyers on their homeownership journey.”
First-time buyers:
- All 85% - 95% LTV two-year fixed rates are reducing by up to 0.23%.
- All 85% - 95% LTV three-year fixed rates are reducing by up to 0.32%.
- All 85% - 95% LTV five-year fixed rates are reducing by up to 0.17%.
New build - first time buyer:
- All 85% - 95% LTV two-year fixed rates are reducing by up to 0.23%.
- All 85% - 95% LTV three-year fixed rates are reducing by up to 0.32%.
- All 85% - 95% LTV five-year fixed rates are reducing by up to 0.17%.
Alongside reductions for first-time buyers, Santander is also reducing rates across its Home-mover and Large Loans range.
