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TODAY'S OTHER NEWS

Santander moves to reduce BTL fees and rates

Santander has announced that it has refreshed its 60% and 70% loan-to-value (LTV) buy-to-let deals to help encourage ‘those who want to invest make their ambition become a reality’.

The lender’s 60% LTV two-year fix at 1.44% now comes with a £1,495 product fee, following a £500 reduction, while its 75% LTV two-year fix at 1.94% also now comes with a £1,495 fee.

In addition, Santander has made reductions to its five-year fixes to stand at 1.79% to 60% LTV and 1.99% to 75% LTV, both with a £999 product fee, while its 90% LTV two-year fix has been reduced to 2.54% with no product fee.

Brad Fordham, intermediaries managing director at Santander, said: “The BTL market has slowed in recent months, but appetite for investing in property remains.

“We hope that by reducing the product fee on our BTL products, we will support this area of the market and help those who want to invest make their ambition become a reality.”

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