The high street bank has confirmed cuts from 0.04% to 0.11% and the launch of a new remortgage product up to 60% LTV from Thursday September 7. Experts react as follows: https://www.birminghammail.co.uk/news/midlands-news/santander-issues-24-hour-warning-27666005

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High street lender Santander has announced further rate reductions on selected residential remortgage fixed rates by 0.04% to 0.11%, with lowered rates available from tomorrow, September 7. However, brokers were apparently disappointed by the small rate cuts made by Santander. https://www.mpamag.com/uk/mortgage-types/residential/santander-cuts-rates-by-up-to-011/458762?hsmemberId=627862&tu=dfdc9428-69d3-4fa0-bb8c-cbbfb4c802a1&utm_campaign=&utm_medium=20230906&_hsmi=273188599&_hsenc=p2ANqtz-8o5mFfCXzBSf2NufKDGj_Hig2BccSMjy9xlOmlybqqmP8LP7JtiepSi-A12vkD9wKQ_641LXUiHcjz84BjnfE6B3ZW8Q&utm_content=dfdc9428-69d3-4fa0-bb8c-cbbfb4c802a1&utm_source=

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Newspage asked brokers for their thoughts on this interesting re-price from Santander, and what effect this might have on the rest of the market in the coming days. Read their comments: https://www.birminghammail.co.uk/news/cost-of-living/santander-announces-change-accounts-brilliant-28615225

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Mortgage brokers were baffled today by a series of price moves in both directions, including two of the UK’s ‘big six’ lenders raising some rates at the same time they lowered others. Santander and Coventry Building Society cut the interest rates on a number of fixed-rate products, while Accord increased its own rates. That may be a sign that lenders may have differing views of the future outlook for the Bank of England’s own interest rates. Experts Discuss: https://www.standard.co.uk/business/mortgage-lenders-interest-rates-borrowing-home-loan-property-house-bank-of-england-prices-b1147810.html

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Santander has revealed that, on Wednesday 29 November, it is reducing selected residential and buy-to-let fixed rates in the new business and product transfer ranges. In terms of new business, selected standard residential fixed rates will be reduced by between 0.03% and 0.27%, and selected New Build exclusive fixed rates will be reduced by between 0.05% and 0.29%. Financial Experts give their opinions: https://www.birminghammail.co.uk/news/midlands-news/santander-announces-new-rules-mortgage-28189029

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Mortgage rates have been on the rise but lenders such as Santander are continuing to help property owners during a trying time. Earlier today (November 28), the bank confirmed it was making reductions to interest rates across its selected residential and buy-to-let fixed rates in the new business and product transfer ranges. Mortgage brokers welcomed the news with many suggesting it could lead to similar actions by other lenders, read their comments: https://www.express.co.uk/finance/personalfinance/1840116/santander-mortgage-interest-rates-reduction-cut

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Lenders have been urged to focus their efforts on building relationships with brokers, ensuring that intermediaries do not spend interminable periods on hold, if they want to offer better support. This week Santander announced it was “simplifying” its broker support system by introducing a single number for intermediaries to call, a change it said was being made following feedback from brokers. However, brokers argued that rather than trimming back contact numbers, lenders should focus on speedy responses and building relationships with intermediaries, allowing issues to be resolved swiftly. https://www.mortgagesolutions.co.uk/news/2023/04/25/the-abcs-of-brokers-lender-communication-answer-the-phone-build-relationships-cancel-live-chat-%e2%80%92-analysis/

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Residential and buy-to-let rates are reducing by up to .29%. Santander is reducing selected residential and buy-to-let fixed rates in its new business and product transfer ranges. Available from tomorrow, selected residential new business rates will be reduced by between 0.03% and 0.27%, and selected new build exclusive fixed rates will decrease by between 0.05% and 0.29%. Additionally, selected buy-to-let fixed rates are reducing by between 0.05% and 0.17%. In terms of product transfers, selected residential fixed rates will be reduced by between 0.03% and 0.10% and selected buy-to-let fixed rates by up to 0.17%. Speaking out qualified brokers welcomed the news and said the fact that a lender the size of Santander has cut should trigger other lenders to follow suit. https://www.financialreporter.co.uk/santander-reduces-new-business-and-product-transfer-rates.html#:~:text=Residential%20and%20buy%2Dto%2Dlet,reducing%20by%20up%20to%2029bps.&text=%22Hot%20off%20the%20heels%20of,to%20keep%20the%20market%20alive.%22

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