Santander for Intermediaries is set to implement rate reductions on selected residential and buy-to-let fixed-rate products within its new business and product transfer ranges.
The changes include adjustments to new build fixed rates in the new business category and the introduction of new 10-year fixed-rate products for purchases and remortgages.
For new business, selected residential fixed rates will see reductions ranging from 0.02% to 0.19% for purchases and remortgages. Buy-to-let fixed rates will decrease by between 0.05% and 0.15%, while new build fixed rates will drop by between 0.03% and 0.07%.
The new 10-year fixed-rate products for purchases and remortgages are being introduced to provide customers with more long-term stability options.
In the product transfer range, residential fixed rates are set to reduce by between 0.01% and 0.27%, with buy-to-let fixed rates also decreasing by between 0.05% and 0.15%.
Santander confirmed that there will be no changes to its large loan or tracker products.
