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Santander increases 85 per cent LTV rates

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  • 06/08/2020
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Santander increases 85 per cent LTV rates
Santander is increasing interest rates at 60 per cent and 85 per cent loan to values (LTVs).

 

The lender is the latest to lift its interest rates at high LTVs as lenders attempt to manage service levels with capacity constraints and a very busy market.

From 7 August its 85 per cent purchase and remortgage products will see rates rise by up to 0.2 per cent, while the 60 per cent fee-free range will rise by up to 0.1 per cent.

The 85 per cent two-year fixes with £999 fee will rise 0.2 per cent to 2.09 per cent, as will the fee-free version from 2.39 per cent to 2.59 per cent.

The five-year fee-free fix at 2.55 per cent will also rise 0.2 per cent, while the £999 fee deal will increase 0.15 per cent to 2.54 per cent.

Five products at 60 per cent LTV will increase interest rate by 0.1 per cent. They are:

  • Two-year fix at 1.64 per cent with £0 fee – remortgage
  • Two-year fix at 1.74 per cent with £0 fee – purchase
  • Five-year fix at 1.74 per cent with £0 fee – remortgage
  • Five-year fix at 1.84 per cent with £0 fee – purchase
  • Help to Buy two-year fix at 1.79 per cent with £0 fee – purchase

Helen Harrison, head of Santander for Intermediaries said: “We regularly review our product offering to manage the inflow of applications and ensure we can continue to deliver a high level of service to our customers and help them towards their homeownership dreams.“

 

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