Santander has announced cuts to their fixed-rate mortgages by up to 0.20%!

This could mean significant savings for borrowers, particularly those with larger loans. For example, on a £250,000 mortgage, a 0.20% reduction on a two-year fixed rate could save you over £1,000 in interest payments over the fixed term.

Here are some examples of the biggest rate cuts:

• Remortgaging? The two-year fixed rate for those borrowing 75% of their property’s value now sits at a competitive 4.77%, down from 4.89%. This comes with a fee of £999.
• Buying a home? The two-year fixed rate for those buying with a 5% deposit (95% LTV) has been cut from 6.05% to 5.95%. This product has no fee and even comes with £250 cashback!
• New build dream? Securing a 60% LTV three-year fixed rate on a new build is now more affordable, with rates dropping from 4.78% to 4.66%. This exclusive purchase deal has no fee.
• Buy-to-let landlords haven’t been forgotten! The five-year fixed rate for remortgaging a buy-to-let property at 60% LTV has been trimmed from 4.50% to 4.37%. This product has a £1,749 fee.

These rate cuts come hot on the heels of Santander launching a new, improved website for mortgage brokers, making it easier for them to find the best deals for their clients.

This could be the perfect time to check your existing mortgage deal or speak to a mortgage broker about securing a great rate. Don’t miss out on these potential savings!