Santander is cutting rates on its lower loan to value (LTV) mortgages and adding new products for loans up to £1.5m.
The rate reductions of up to 31 basis points will be made on standard residential, Help to Buy and buy-to-let mortgages at 60 per cent or 75 per cent LTV.
The largest decrease is on the 60 per cent LTV two-year fix with £999 fee for residential purchases which has been cut by 31 basis points to 1.28 per cent.
Its 75 per cent LTV version has been cut by 25 basis points to 1.59 per cent.
Among the Help to Buy product changes, the 60 per cent LTV two-year fix with £999 fee has been cut by 25 basis points to 1.39 per cent.
And the 75 per cent LTV five-year fee-free versions has been reduced by 15 basis points to 2.24 per cent.
Santander is also launching a range of 60 per cent LTV fixed rates with £1,499 fee for loans up to £1.5m.
The range starts with the two-year fix for remortgage at 1.14 per cent up to the five-year deal for purchase at 1.38 per cent.
Finally, reductions have also been made on buy-to-let deals with zero fees and a £1,499 fee.
These include the 60 per cent LTV two-year fix with a £1,499 fee, which has been cut by 10 basis points to 1.54 per cent, and the 75 per cent LTV five-year fee-free deal reduced by 30 basis points to 2.39 per cent.
Owain Thomas is features and contributing editor of Mortgage Solutions and editor of Specialist Lending Solutions.
He also has experience in the protection, pensions, workplace benefits and HR areas.
Owain has won two Headline Money Awards and the Protection Review’s Journalist of the Year award.