From tomorrow, caps will be lifted on its 80%, 85% and 90% LTV ranges.

The 80% LTV cap will rise to £1m, the 85% LTV to £750,000 and the 90% LTV to a £500,000 maximum loan allowance.

SFI will also launch a 60% Lifetime Tracker at 2.49% (BBR+1.99%) with No booking fee.

Santander created a new mortgage division at the start of December and appointed Miguel Sard as managing director, subject to FCA approval.

The bank is restructuring its mortgage business to create a new division responsible for all mortgage products and marketing across its retail and intermediary channels.

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