As mortgage rates fall to record lows, Santander is launching a new range of buy-to-let remortgages, claiming they’ll be the cheapest deals on the market.
Experts are talking about a ‘mortgage price war’, as lenders compete for customers against a backdrop of dwindling demand and a sluggish housing market.
Yorkshire Building Society recently introduced a residential mortgage rate of 0.89 per cent, and Santander have now slashed interest rates by up to 0.3 per cent, offering rates from just 1.14 per cent on a two year residential loan.
Tomorrow, Santander are also introducing a new range of buy-to-let remortgage rates, starting at 2.29 per cent for a two year fixed loan with 60 per cent LTV, and 2.59 per cent for 75 per cent LTV.
The deal includes zero product fee, a free standard valuation, and £250 casback on completion.
Five year fixed buy-to-let remortgage rates start from 2.45 per cent at 60% LTV and 3.04 per cent at 75% LTV, with a £1,999 product fee, free standard valuation and £250 cashback.
Miguel Sard, the Managing Director of Mortgages at Santander UK, said: “Following our announcement a couple of weeks ago about our new affordability approach for buy-to-let customers, we are very pleased to now introduce some market leading remortgage rates to further support this important sector of the market.
“We are also excited to be introducing a highly competitive range of new mortgages and rate reductions designed to provide additional choice and value for customers across the residential market.”
How will you be impacted by the ‘mortgage price war’? Tell us in the comments.
We create this content for general information purposes and it should not be taken as advice. Always take professional advice. Read our full disclaimer
31 March 2017 • 3-minute read
If you’re thinking about buying a rental property then there are four things you should keep in mind, whether you’re a seasoned pro or new…
21 April 2017 • 1-minute read
There’s been a three per cent rise in the number of buy-to-let landlords remortgaging their properties, according to new figures from…
6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2020 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.