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Santander, Virgin and Clydesdale reduce mortgage rates

Santander, Virgin and Clydesdale reduce mortgage rates
Shekina Tuahene
Written By:
Posted:
17/06/2025
Updated:
17/06/2025

Santander has cut rates across selected high-loan-to-value (LTV) mortgages.

This includes most of its residential homemover products at 85-95% LTV, fixed for two or five years, which have fallen by as much as 0.12%. 

Across its residential homemover products for new build, most options at 85-95% LTV, fixed for two or five years, have also been cut by up to 0.12%. 

For first-time buyers, all two- and five-year fixes at 85-90% LTV have been reduced by as much as 0.15%, while the five-year fix at 95% LTV will be reduced by 0.22% to a rate of 4.85% with no fee and £250 cashback. 

This applies to standard and new-build properties. 

Santander has also lowered selected residential mortgages between 60% and 90% LTV, fixed for two or five years, by up to 0.1%. 

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Across its product transfer range, all two- and five-year fixes at 90% LTV have been lowered by 0.1%, while all two-year fixes for buy-to-let (BTL) at 60% LTV have been reduced by 0.09%. 

Changes apply from 18 June. 

Earlier this month, the firm adjusted new business and product transfer rates.

Virgin Money cuts rates and adds five-year fixes

Virgin Money has announced reductions to selected rates and the addition of five-year fixes within its exclusive purchase range. 

The new products include a deal at 75% LTV with a rate of 4.14% and the corresponding product at 85% LTV with a rate of 4.28%. Both have an £895 fee. 

Elsewhere, the exclusive two-year fixed purchase rate at 80% LTV has been cut by 0.1% to 4.19% and the five-year fix by 0.03% to 4.26%. These products also have an £895 fee. 

Virgin Money has also reduced shared ownership rates by as much as 0.15%. 

Across its remortgages, the exclusive five-year fix at 75% LTV with a £995 fee has been reduced by 0.06% to 4.14%. 

Additionally, Virgin Money has cut two- and five-year fixed BTL rates with a £2,195 fee by up to 0.1%, while options with a 3% fee have been reduced by up to 0.05%. Further, two- and five-year fixed BTL rates with a 1% fee have been lowered by up to 0.14%.

Clydesdale Bank reduces mortgage rates

Clydesdale Bank has also lowered pricing, such as its core residential rates, including product transfer. 

Across this range, selected two- and five-year fixed rates between 65% and 85% LTV have gone down by as much as 0.16%, and selected two- and five-year fixed rates at 90-95% LTV have been cut by up to 0.2%. 

The lender has reduced the two-year purchase exclusive rate at 95% LTV by up to 0.23% and the two- and five-year remortgage exclusives at 85% LTV by up to 0.19%. 

Within its exclusive range, two-year product transfer rates at 65% LTV will fall by 0.05%. 

Clydesdale Bank has also cut selected residential two- and five-year professional and newly qualified rates at 85-95% LTV by up to 0.25%. 

It will also increase maximum loan sizes for professional products. 

As for its BTL offering, two-year product rates at 75% LTV will go down by 0.2%. The bank will also make its two-year fee offer rates available to new borrowers. 

These changes will apply from 18 June. 

This article was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: Santander, Virgin and Clydesdale reduce mortgage rates – round-up