High street lender Santander will reduce select homemover and first-time buyer fixed rates, with some increases of up to 0.09% applied to select deals.
Within Santander’s new business range, all 75-95% loan-to-value (LTV) two-year fixed first-time buyer rates will decrease by up to 0.08%, and its three-year fixed rate at 75% LTV with a £999 fee will fall by 0.05%.
The lender’s three-year fixed new-build rate at 75% LTV with a £999 fee will be cut by 0.05%.
Most residential homemover two-year fixed rates from 75% to 95% LTV will go down by up to 0.15% and select five-year fixed rates from 90% to 95% LTV will decrease by up to 0.07%.
All buy-to-let (BTL) purchase two-year fixed rates from 60% to 75% LTV will be reduced by up to 0.1%, and all BTL remortgage two-year fixed rates at 60% LTV will decrease by 0.05%.
Santander is also making fixed rate increases, with select first-time buyer products from 60% to 90% LTV rising by 0.09% and select residential homemover five-year fixed rates rising by 0.06%.
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Select residential remortgage two-year fixed rates at 60% LTV and all five-year fixed rates from 60% to 90% LTV will go up by 0.08%.
The lender’s two-year tracker with no fee for residential existing homemovers will go down by around 0.08%.
Within its product transfer range, all BTL two-year fixed rates at 60% LTV will fall by 0.05%, while select residential two-, five- and seven-year fixed rates will rise by around 0.08%.
The bank lowered rates earlier this month.
Molo cuts HMO and MUFB rates
Specialist BTL lender Molo has lowered select house in multiple occupation (HMO) and multi-unit freehold block (MUFB) rates by up to 0.15%.
The lender said the rate changes, which are effective immediately, would boost affordability for landlords.
Two-year fixed rates for HMO and MUFB products begin at 2.23%, while five-year fixed rates are priced from 4.83%.
Molo said there was no premium for larger HMOs or MUFBs with six or more rooms or units. It said this ensured “consistent pricing for investors scaling their portfolios”.
Martin Sims, Molo’s distribution director, said: “Specialist landlords play a pivotal role in the rental market, and they demand competitive finance solutions. By reducing HMO and MUFB rates, we are helping intermediaries reduce costs, scale faster, and secure long-term growth for their clients, in this evolving market.”
