You are here: Home - News -

Santander ups mortgage rates after Bank of England hike

  • 08/11/2017
  • 0
Santander ups mortgage rates after Bank of England hike
Santander is the latest lender to raise mortgage rates after the Bank of England upped the base rate from 0.25% to 0.5%.


Santander’s standard variable rate (SVR) and all tracker deals linked to the base rate will increase by 0.25% in December.

It takes the lender’s SVR to 4.74% – the same level as its Alliance and Leicester brand, which is not set to change.

Santander also raised returns on selected saving products, but maintained the 1.5% rate on its 123 Current Account.

The Bank of England raised rates for the first time in a decade last week.


Little hesitation from lenders

The move prompted lenders to make quick changes to mortgage rates, but some providers have come under fire for acting more slowly on savings deals.

Barclays, HSBC, RBSTSB and Yorkshire Building Society are among the providers that have announced changes to mortgage rates following the Bank of England’s hike.

Reza Attar-Zadeh, head of customer at Santander, said: “Following last Thursday’s decision to increase the Bank of England Base Rate, we have carefully considered our options, and have sought to achieve a balance between rates we offer our savers and borrowers.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Liz Syms Connect Mortgages
Blue Zest to lend through Connect

BlueZest is now distributing its mortgages through the Connect for Intermediaries network and packager.