Santander reduces rates across the board, including its buy to let mortgage range
Santander is the latest lender to make cuts to the rates its offering across a broad range of products, including buy to let mortgages.
Many of the reductions affect the lender’s fixed term loan rates for landlords. The details are:
- 2 year fixed rate for up to 75% LTV available at 1.99%, down from 2.04%
- 5 year fixed rate for up to 75% LTV available at 2.84%, down from 3.04%
The reductions have also affected mortgages from its other ranges including residential mortgages and remortgages, Help to Buy, fixed rate mortgages for new build properties and equity loan products.
Since the rise in the interest rate last November, many lenders took their time in deciding what tack they were going to take regarding a rate review. Since the beginning of 2018, though, a number have now made their strategy clear and made sweeping reductions that affect a broad range of products.
To find out whether Santander’s offering is the right one for you as a landlord; speak to a Deal Direct mortgage expert today to discuss your options.
We are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of a property as an investment, you will need to contact an independent financial adviser.
Please note that buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as a normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.