Santander has announced mortgage rate reductions for first-time buyer products and other higher-loan-to-value (LTV) deals.
Across its new business range, all first-time buyer rates, including new-build products at 85%, 90% and 95%, will be reduced by up to 0.32%, across two-, three- and five-year fixes.
For residential homemovers, including new build, all 85% LTV and selected 90% LTV two-year fixed rates will be lowered by up to 0.08%.
Reductions of 0.27% will also be made to large loan homemover and remortgage two-year fixes at 60% and 75% LTV, while the five-year fix at 60% LTV will be cut by 0.06%.
The rates that Santander will be increasing include all residential homemover two-year fixed rates at 60% LTV by 0.07%, including new build, and all five-year fixed rates at 60%, 75%, 85% and 90% by 0.07%.
Across residential remortgages, selected two-year fixed rates at 60% LTV will rise by up to 0.03%, and all five-year fixed rates at 60%, 75%, 85% and 90% LTV will go up by as much as 0.07%.
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Changes have also been made to its product transfer range, including the withdrawal of the residential five-year fix at 60% LTV with a rate of 3.75% and a £1,999 fee.
Rate increases across its product transfer including the residential five-year fixes at 75%, 80%, 85% and 90% LTV will go up by as much as 0.05%, and seven-year fixes at 60% and 75% LTV by as much as 0.07%.
The new rates will be effective from 17 February.
David Morris, director of homes at Santander UK, said: “We’re going into 2026 with a renewed focus on supporting first-time buyers in a balanced and responsible way, with recent applications for our newly launched My First Mortgage showing there is real demand in the market for creative support from lenders.
“But we can’t forget the basics, and we’re pleased to introduce this suite of mortgage rate reductions across our range of higher-LTV lending, the latest advancement in our goal of helping first-time buyers on their homeownership journey.”