Santander and Zephyr cut buy-to-let rates

Santander and Zephyr Homeloans have reduced buy-to-let rates. Santander rates start from 3.99% compared to the latter’s 2.69%, though Zephyr’s products come with high fees.

Santander

There is a 3.99% rate for a 2-year fix to 60% loan-to-value with a £1,749 fee, for those making a buy-to-let purchase.

A 4.15% 2-year fix is available with the same fee to 75% LTV.

There are also 5-year fixed rate options, at 4.12% to 60% LTV and 4.22% to 75% LTV, both with a £1,749 fee.

Zephyr

• 2.69% on a 2-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee
•  2.69% on a 2-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee
• 2.84% on a 2-year, fixed rate mortgage for HMOs (houses of multiple occupancy) and MUFBs (multi-unit freehold blocks) up to 65% LTV, with a 7% fee
• 4.49% on a 5-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee
• 4.49% % on a 5-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee
• 4.59% on a 5-year, fixed rate mortgage for HMOs and MUFBs up to 65% LTV, with a 7% fee