Santander cuts resi, landlord rates by up to 32bps 

Santander for intermediaries has cut selected residential and buy to let fixed rates across its new business and product transfer ranges by up to 32 basis points. 

The bank’s broker-only unit says its reductions cover: 

New business 

  • Selected standard residential fixes, down by between 3bps and 32bps 
  • Selected new build exclusive fixes, down by between 15bps and 20bps 
  • All large loan fixed rates, down by 15bps 
  • Selected BTL fixes, down by between 3bps and 18bps 

Product transfers 

  • Selected residential fixes, down by between 3bps and 30bps 
  • Selected BTL fixes, down by between 3bps and 18bps 

The lender says that new business and product transfer completion deadlines will roll on by one month. 

It tells brokers that clients who have not accepted a product transfer offer, means that brokers can select a new product in the online mortgage transfer service for them and a new offer will be issued.   

It adds that If clients have accepted a new deal, brokers can change to a different deal, or cancel the one that has been booked. Brokers must do this at least 14 days before their client’s new deal starts. 

source

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