Santander has reintroduced a sub-4% mortgage rate as part of a series of reductions across its mortgage range.

The lender’s residential fixed rates have been reduced by up to 0.50% with the lowest rate now at 3.99%.

As part of the changes, Santander is reducing rates across loan-to-value (LTV) brackets and across two, three and five year fixed terms deals providing greater choice for customers.

To support first time buyers and customers with smaller deposits purchasing a home, the largest rate reduction of 0.50% is on Santander’s 95% LTV five-year fixed rate product, which is now priced at 5.14%, has no fee and comes with £250 cashback.

Head of business development, mortgages at Santander, Graham Sellar, said: “These rate reductions will help customers right across the mortgage market, whether buying their first home, moving house or remortgaging. By reducing rates in a range of LTV brackets and across two, three and five-year fixed deals we are increasing choice for customers.

“Santander mortgage customers will also benefit from innovative services such as My Home Manager which provides easy, practical and tailored support to help manage the costs of running a home.

“From help moving in, to information on how to save money on energy bills, and access to green technology such as solar panels we continue to look for new ways to help customers manage their homes.”

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