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Santander ups rates as Barclays and TSB make reductions ‒ round-up

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  • 22/01/2020
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Santander ups rates as Barclays and TSB make reductions ‒ round-up
Three high street lenders have announced changes to their product ranges, from removing remortgage deals to introducing new fixed rates for buy-to-let borrowers.

Santander increasing rates

Santander has increased rates on a host of two- and five-year fixed rate products by up to 0.05 per cent.

Affected deals include the two-year fixed rate at 1.89 per cent for borrowers with a 25 per cent deposit and the five-year fixed rate at 2.34 per cent at 85 per cent loan-to-value (LTV).

It has also withdrawn two ‘remortgage special’ deals.

The pulled products are the five-year fixed rate at 1.39 per cent at 60 per cent LTV, and the five-year fixed rate at 1.49 per cent for borrowers with a 25 per cent deposit.

 

Rate reductions at Barclays

Barclays has confirmed a host of rate cuts, alongside the launch of a new five-year fixed rate buy-to-let deal.

On its residential range, it is cutting the rate on its seven-year fixed rate for borrowers with a 40 per cent deposit from 1.89 per cent to 1.84 per cent.

It is also reducing the rate from 2.85 per cent to 2.80 per cent on its two-year fee-free fixed rate for borrowers at 95 per cent loan-to-value.

On buy-to-let deals, the five-year fixed rate for borrowers with a 25 per cent deposit drops from 2.77 per cent to 2.67 per cent, while the five-year fixed rate purchase only deal at 2.22 per cent falls to 2.13 per cent.

Its new product is a five-year fixed rate at 1.75 per cent with a £1,295 fee at 60 per cent LTV.

 

Fixed rate cuts at TSB

TSB has cut the rates on a host of residential products.

The largest is a 0.2 per cent reduction on its 85 per cent LTV ten-year fixed rate deal to 2.64 per cent.

It has also trimmed the rate on its five-year fix at 85 per cent LTV from 1.94 per cent to 1.84 per cent, with smaller cuts on other fixed rate deals.

Alongside the rate cuts, TSB has withdrawn its five-year fixed rate deals at 75 per cent to 85 per cent LTV with a £1,495 fee.

Nick Smith, head of mortgages at the lender, said: “There are many homeowners in the UK whose fixed rate deals are about to come to an end, so I’m sure that these rate reductions will be a welcome addition to our product range.”

 

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