Santander has reduced the rates on its fixed rate properties in the Home Mover and New Build Home Mover ranges.
All home mover products with a two-year fixed interest rate of 75%, 85%, 90% and 95% have been reduced by as much as 0.10%.
In addition, all 75% LTV three-year fixed rates have decreased by up to 0.10%, while all 75%, select 85%, and all 90% and 95% LTV fixed five-year rates have decreased by up to 0.04%.
The three-year fixed rate 75% LTV with a £999 fee and £250 cashback has been reduced by 0.10% to 3.86%.
All new construction products for movers with an LTV fixed rate of 75%, 85%, 90% and 95% have been reduced by up to 0.10% and all 75% LTV fixed rates of three years have been reduced by as much as 0.10%.
The bank has also reduced all 75%, select 85%, all 90% and 95% LTV five-year fixed interest rates by up to 0.04%.
The 75% LTV two-year fixed rate New Build Exclusive with a £999 fee and £250 cashback has been reduced by 0.10% to 3.86%.
As part of Santander’s commitment to agents not to duplicate pricing, the new prices are available to all customers, whether they apply through an agent or directly.
Elsewhere, LendInvest Mortgages has cut rates on a selection of residential mortgage products.
For the lender’s Premier and Advantage range of home mortgages, rates will be reduced by 15 basis points, with the lowest rates starting at 4.99%.
Earlier this year, in March, LendInvest reconfigured its lending criteria, allowing several types of adverse credit, including CCJs and defaults, at all four levels.
This rate cut comes after research from LendInvest, together with Opinium Research, found that one in five (20%) of potential homebuyers have missed a credit card or utility payment in the last 12 months.
The survey of 1,000 British adults looking to buy a home or remortgage in the next five years also found that 33% say they are less likely to become homeowners due to the cost of living crisis.
The survey also found that 35% say they have felt discouraged when applying for a mortgage from major banks due to their employment status or income streams.
Paula Mercer, director of sales at LendInvest, said: “We are pleased to introduce this 15 basis point reduction for borrowers in our Premier and Advantage tiers. In an economic climate where affordability is the top priority, this rate reduction will support those looking to purchase a home or remortgage.”