Customers will be able to take advantage of fixed and tracker products starting from 2.04%. They include:

– Two-year tracker at 2.04%, up to 75% LTV
– Two-year fix at 2.49%, up to 80% LTV
– Five-year fix at 3.44%, up to 75% LTV

Santander is also reducing its five-year fixed rate ‘existing mover exclusive’ from 3.79% to 3.59% (up to 80% LTV).

All of its ‘existing mover exclusive’ products come with a booking fee of £995 plus Santander’s Homebuyer Solution offering a free valuation and £250 cashback for those buying a new home.

Santander 123 current account customers, who pay their monthly Santander mortgage payment by direct debit, will also receive 1% cashback on maximum monthly mortgage payments of £1,000.

Miguel Sard (pictured), head of mortgages at Santander, said: “We are delighted to reward our existing mortgage customers with some of the most competitive deals on the market. These new rates, together with our offer of 1% cashback to our 123 current account holders, clearly demonstrate our commitment to supporting our customers, both new and existing, as they make their way up the housing ladder.”