Santander has made fee reductions on both its 60% loan to value (LTV) and its 75% LTV buy-to-let products.
These reductions in fees are designed to support the market following the tax changes introduced earlier this year.
- 60% LTV two-year fixed buy-to-let − 1.44% with a £1495 product fee
- 75% LTV two-year fixed buy-to-let − 1.94% with a £1495 product fee
In addition, Santander will be reducing rates on a selection of existing fixed rate residential products, as follows:
- 60% LTV five-year fixed – 1.79% with a £999 product fee on purchase and remortgage
- 75% LTV five-year fixed – 1.99% with a £999 product fee, on purchase and remortgage
- 90% LTV two-year fixed – 2.54% with zero product fee, on purchase and remortgage
Brad Fordham, managing director of Santander for Intermediaries said: “The buy-to-let market has slowed in recent months, but appetite for investing in property remains.
“We hope that by reducing the product fee on our buy-to-let products, we will support this area of the market and help those who want to invest make their ambition become a reality.”
Santander 1|2|3 Current Account customers who pay their monthly Santander mortgage payment by direct debit will receive 1% cashback on maximum monthly mortgage payments of up to £1,000.