Hamburger icon

Menu

  • Business insurance

    Business insurance covers

  • Support
  • Claims
  • Manage your policy
Telephone iconCall Us0333 0146 683
Our opening hours
Chevron left icon
Knowledge centre

Santander launches new BTL remortgage rates as buy-to-let mortgage price war hots up

1-minute read

Santander launches new BTL remortgage rates as buy-to-let mortgage price war hots up
Jade Wimbledon

Jade Wimbledon

25 April 2017

Facebook iconTwitter iconLinkedIn icon

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.

  • BTL landlords start remortgaging in the face of tax changes
  • 2017 buy-to-let tax changes explained
  • Top 4 things to consider when buying a rental property
  • What’s the difference between buildings and contents insurance?

Lacklustre housing market triggers buy-to-let mortgage price war

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.

Buy-to-let owners also benefit

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.

Santandar looking to 'support important sector of the market'

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.

Get set with tailored landlord cover

Over 200,000 UK landlord policies, a 9/10 customer rating and claims handled by an award-winning team. Looking to switch or start a new policy? Run a quick landlord insurance quote today.

Start your quote

Find this article useful? Spread the word.

Facebook icon
Share
Twitter icon
Tweet
LinkedIn icon
Post

People also liked

Keep up to date with Simply Business. Subscribe to our monthly newsletter and follow us on social media.

Subscribe to our newsletter
Facebook icon

Follow us on Facebook

Twitter icon

Follow us on Twitter

YouTube icon

Subscribe to our videos on YouTube

LinkedIn icon

Follow us on LinkedIn

Address

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.