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HSBC and Santander increase high LTV rates by up to 0.3 per cent

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  • 29/09/2020
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HSBC and Santander increase high LTV rates by up to 0.3 per cent
HSBC and Santander have increased interest rates on high loan to value (LTV) mortgages from today, with changes applying to new business and product switching deals.

 

HSBC has increased its 85 per cent LTV new business range by between 0.2 per cent and 0.3 per cent.

The biggest rate increase has been applied to the bank’s two-year fix with a £999 fee rises from 2.54 per cent to 2.84 per cent.

Its fee-free five-year fix has increased by 0.2 per cent to 3.44 per cent, with all other products in the range, including the tracker, rising by 0.25 per cent.

HSBC has also increased its 90 and 95 per cent LTV product switch ranges for existing customers by 0.1 per cent.

 

Santander

Meanwhile, Santander is increasing its 85 per cent LTV two- and five-year fixed rates by up to 0.15 per cent.

The two-year fix at 2.79 per cent with a £999 fee has increased by 0.10 per cent, while the five-year fix at 2.94 per cent with £999 fee up by 0.15 per cent.

For product transfers increases of 0.05 per cent to 0.20 per cent have been made up on selected residential fixed rate and tracker products to 90 per cent LTV.

 

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