Mortgage News
Santander increases PT rates and Platform tweaks fee assisted remo
Santander is increasing interest rates throughout its mortgage switch range on 27 October, the lender confirmed.
The increases will range between 0.05 per cent and 0.2 per cent and affect selected fixed and tracker residential product transfer rates at all loan to values (LTVs) up to 90 per cent.
Santander did not give details on specific products that will be changed.
In a notice to advisers, the lender said all end dates will roll on by one month to 2 February and the completion deadline will be rolled on by one month to 5 March 2021.
It added that product transfer rates are personalised to each customer and can only be obtained by logging on to the lender’s system.
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Platform
Meanwhile, Platform has widened the availability of its fees assisted remortgages.
The lender has removed the £500,000 maximum loan limit to qualify for fees assisted remortgages.
The only restriction that will remain in place is the exclusion of unencumbered properties as well as standard LTV restrictions.
Platform also emphasised the importance of obtaining an email address for all customers submitting applications to support its conveyancing process.
Doing so allows the conveyancer to use the Land Registry E-Deed service which will speed up remortgage times and also allow for the online completion of conveyancing applications.