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Santander launches market-leading fixed rates

ended 05. December 2025

Just as you were all cracking open the Tennents Super, Santander have gone and announced some market-leading rates. 

The standout deals, which start on Tuesday 9th December, are Residential home mover 60% and 75% LTV 2- and 5-year fixed rates starting from 3.51% with a £1,999 fee and £250 cashback. For loan sizes between £500,000 and £2 million.

The lender has also launched a Residential home mover large loan at 60% and 75% LTV 2- and 5 year fixed rates starting from 4.02% with a £2,999 fee and £250 cashback. For loan sizes between £1.5 million and £5 million.

Your thoughts ASAP please. As well as on the timing so late on a Fri PM?

7 responses from the Newspage community

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Shaun Sturgess
Director at Sturgess Mortgage Solutions
On the surface, Santander’s 3.51% rate looks like a cracking move and a real show of confidence from lenders as we head into the festive season. The catch? It comes with a £1,999 fee and only applies to loans between £500,000 and £2 million, so it’s hardly one for the average South Wales buyer. In Swansea, you’d be hard-pressed to find many opportunities to borrow at that level! That said, moves like this tend to ripple through the market and could spark some healthy festive competition among lenders — great news for anyone looking to secure a deal before the year’s out.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
Santander has just thrown a huge snowball into the mortgage market, and it’s kicked off an all-out winter rate fight. These aren’t quiet tweaks. They’re crowd-pleasing cuts from a lender that clearly wants to dominate the home-mover space. When a bank of this size starts slashing rates and adding cashback sweeteners, it tells you the mood of the market has flipped. Lenders are hungry, borrowers suddenly have real power again, and 2026 is shaping up to explode out of the blocks. For anyone looking to move home, this is the best tailwind we’ve seen in months and it’s only going to get better.
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Riz Malik
Independent Financial Adviser at R3 Wealth
Mortgage lenders are getting ready for 2026 and Santander, on this evidence, wants to get in early. With next year being a big renewal year for many borrowers, someone coming off ultra-low fixed rates has just been delivered an early Christmas present from Santander.
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David Stirling
Independent Financial Adviser at Mint Wealth
Santa seems to have arrived early, with Santander breaking the ice and rolling out some red-hot mortgage deals. Several of the products come with minimum loans of £500k up to £2m, suggesting they’re aiming to tempt buyers who’ve been hesitating ahead of the Budget. We may see lenders racing to meet their year-end targets over the next few weeks. 2025 isn’t quite finished yet, and 2026 is looking quietly optimistic.
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Jack Tutton
Director at SJ Mortgages
Just as the UK temperature starts to dip, Santander are hot on the heels of Nationwide to bring some much-needed heat to the mortgage market. Over the last two days, both Santander and Nationwide have made large reductions in their rates, which will be welcomed by mortgage holders. With the cost of borrowing continuing to fall, more lenders should start to reduce their offerings, which could make for a competitive rate war as the year ends.
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Ken James
Director at Contractor Mortgage Services
Santander Has Entered the Chat… with an email sent to the broker community at 4:37 pm on a Friday announcing cuts die to launch on Tuesday 9th December, arriving fashionably late, Now, naturally There will be some poor souls who just missed the cut-off and will now be spending the weekend googling “why do these things only happen to me, But there will also be many a lucky mover who will feel the true spirit of Christmas, lower rates warming their hearts and monthly payments, thanks to not having completed. As for the timing? Well… it’s classic lender mentality, Announce strong rates so late on a Friday that half the market has already emotionally checked out and the other half is in the pub.
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Rohit Parmar-Mistry
Founder at Pattrn Data
Talk about a cynical 'Friday night news dump'. Dropping this just as everyone is clocking off for the weekend is a calculated move, designed to grab the shiny headline while burying the exclusion in the small print.

Strip away the rate and look at the mechanics. The entry ticket is a £500k loan. By setting the bar there, Santander is effectively redlining the Midlands and the North out of the market. In the North East, less than 5% of homes would even qualify. This isn't a national product; it’s a subsidy for the Home Counties.

This is the dark side of data-driven banking. The algorithms have decided the 'safe' money is in wealthy southern pockets, leaving the rest of the country to fight for scraps. It’s a recovery strategy optimised for the M25, not the UK