Rate cuts revealed by Santander

July 22, 2025 by Mark

News

Rates

Santander UK has announced a number of cuts to its mortgage rates, with these set to apply across the buy-to-let, remortgage and purchase product ranges.

The reduced rates come into effect immediately and should make a big difference to borrowers. When it comes to products aimed at those buying for the first time, a fixed two-year loan now has a starting rate of 3.84%. Meanwhile, for buy-to-let borrowers, fixed two-year products now come with a starting rate of 3.79%. That is also the rate for this kind of mortgage product for those looking to move home.

Home movers who opt for the fixed two-year loan with loan to value (LTV) of 90% will see the biggest change. Santander has cut the rate for that product by 0.17%, which leaves it at 4.30%. This particular loan also comes with cashback of £250 and a fee of £999.

The rate cuts apply to fixed five and three-year products too. A fixed three-year loan with LTV of 85% now has a rate of 4.52%. The rate for a fixed five-year mortgage with 60% LTV is now 4.08%.

Santander has cut the rate for a fixed two-year product with LTV of 60% that is targeted at first-time buyers to 3.84%. The fixed five-year 95% LTV loan that is aimed at the same group of borrowers now has a rate of 4.70%. This product also comes without a fee and with cashback of £250. Remortgage customers will also benefit from rate reductions.

Most mortgage advisors with CeMAP training will welcome this news.