Mortgage News
Santander ups new business rates and withdraws select deals
Santander will increase select new business standard and large loan fixed rates by up to 0.46 per cent and will withdraw select residential deals at 60 per cent loan to value (LTV).
The lender said that from tomorrow, it will increase all standard and large loan fixed rates in its new business range.
Santander added that it would increase the pay rate for trackers in line with the latest Bank of England base rate increase of 0.5 per cent.
The lender said that it would also withdraw all its standard residential 60 per cent LTV fixed rates, but 75 per cent LTV rates are still available.
Santander said that standard residential purchase rates would rise by between 0.05 per cent and 0.25 per cent, while standard residential remortgage rates will go up by between 0.05 per cent and 0.46 per cent.
Large loan residential purchase fixed rates will rise by 0.2 per cent and large loan remortgage fixed rates will go up by around 0.32 per cent.
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On the buy-to-let side, purchase fixed rates will increase by between 0.2 per cent and 0.32 per cent and remortgage fixed rates will rise by around 0.2 per cent and 0.42 per cent.