Santander has also withdrawn its large loan tracker rates for first-time buyers, while Molo has cut prices across its UK resident BTL products by 10 basis points on its standard BTL range and 5bp on its specialist products

Santander has made rate reductions to some new business residential and buy-to-let (BTL) fixed rates, effective 21 January.

The cuts include residential home mover (including new build) all 60% loan-to-value (LTV) five-year fixed rates, which have been lowered by up to 0.10% and first-time buyer (including new build) all 85%, 90% and 95% LTV five-year fixed rates, which have gone down by 0.06%.

The residential remortgage 60% LTV two-year fixed rate with a fee of £1,999 has been lowered by 0.01% and all 60% and 75% LTV two-year fixes have been reduced by 0.07%.

For BTL remortgage, all 60%, 65% and 75% LTV two-year fixed rates have been reduced by up to 0.04%, while all 60% and 65% LTV five-year fixed rates have been lowered by up to 0.04%.

The lender has also withdrawn its large loan tracker rates for first-time buyers.

These include the 60% LTV two-year tracker rate with a fee of £1,999 and the 75% two-year tracker rate with a fee of £1,999.

In addition, Santander has made cuts in its product transfer range on some residential and BTL fixed rates.

The residential 75% LTV two-year fix with a fee of £1,999 has been cut by 0.01% and all 60% and 75% LTV five- and seven-year fixes have been lowered by up to 0.07%.

Also, all BTL 60% LTV five-year fixes have been cut by 0.03%.

Elsewhere, Molo has cut prices across its UK resident BTL products by 10 basis points on its standard BTL range and 5bp on its specialist products.

Starting today, Molo’s new BTL rates start from 2.44% for a two-year fix, available to both individual and limited companies at 75% LTV, while five-year rates begin at 4.24%.

Specialist product rates, including HMO, portfolio landlords, new build and holiday lets now start from 2.70% for two-year fixed rates and 4.49% for a five-year fixed, with no premium for larger properties.

Rates for non-UK residents and expat borrowers remain unchanged at 5.84% and 4.75%, respectively.