Santander, TSB and Barclays announce cuts with low-LTV deals among leading improvements – round-up

Santander has lowered new business mortgage rates by up to 21 basis points (bps), with most between the 0.03-0.17% range.

For first-time buyers, it set a two-year fixed rate at 4.44%, down by 0.21%, at 60% loan to value (LTV).

High LTV borrowing is above 5%, reduced from 5.38% to 5.29% at 95% LTV and 5.49% at 98% LTV, down from 5.6%.

Maximum loan sizes were increased, with borrowing available up to £2m across most LTV tiers, and £1m at 90% LTV.

Within the new build range, its 75% LTV two-year fixes both fell by 0.14% to 4.56%, with a £999 fee and 4.81% with no fee.

For remortgages, its 60% LTV two-year fixed rates now start at 4.38%. Its 75% LTV options start from 4.48% and its 85% LTV from 4.78%.

Product flexibility has increased, with fee options ranging up to £1,999. Its £499 and £1,499 fees are for new two- and five-year fixes. The £1,999 and former £2,999 large loan fees have been streamlined to one flat £1,999 fee on loans up to £5m.

TSB announces rate cuts to residential, buy-to-let, product transfer and ADBO range

Its two-, three-, and five-year fixed house purchase rates across its residential range have been reduced by up to 0.2%, including deals for affordable housing. Its lowest available rate for two-year fixes at 60% LTV is 4.39%.

Its two-, three-, and five-year fixed remortgage rates were reduced by up to 0.15%. The lowest rate at 60-75% LTV is 4.49%.

Across its additional borrowing range, residential two-, three-, and five-year fixed rates were reduced by up to 0.15%.

Barclays announces cuts with low-LTV deals among leading improvements

Across its existing business range, Barclays has implemented rate cuts of up to 13bps.

For purchase only rates, three-year fixed rates are at 4.58% at 75% LTV, down from 4.68%.

Five-year fixes saw wider repricing. Headline rates fell to 4.33% at 60% LTV from 4.33%. At 75% LTV, rates dropped from 4.53% to 4.44%. Both have a £899 product fee.

Fee‑free options with 60% LTV on five-year fixes reduced to 4.48% from 4.52%. At 75% LTV, rates were cut to 4.58% from 4.62%.

Remortgage three-year fixed rates have been reduced to 4.60% at 60% LTV from 4.73%. At 75% LTV, rates dropped from 4.70%, down from 4.83% – both with £999 fees.

For tracker products, two-year rates have seen some cuts, with 60% LTV reduced to 4.04% from 4.06%, and 75% LTV to 4.13%, down from 4.18%.