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Santander pulls two-year fixes at 85 per cent LTV and increases rates

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  • 19/10/2020
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Santander pulls two-year fixes at 85 per cent LTV and increases rates
Santander is withdrawing one of its main high loan to value (LTV) mortgages and increasing rates on selected deals across its range from tomorrow.

 

The lender is pulling its two-year fix with £999 fee at 85 per cent LTV – it will still have three-year and five-year options for home purchase and remortgaging.

The five-year version is one of those being increased – it’s rate will rise by 0.15 per cent to 3.29 per cent.

In total 20 residential and four buy-to-let products will see their rates increased by a maximum of 0.35 per cent on 20 October.

The biggest increase is the two-year residential tracker at 75 per cent LTV with a £999 fee which has been increased by 0.35 per cent to 2.09 per cent – Bank of England Base Rate plus 1.99 per cent.

Four large loan products and eight Help to Buy deals are included in the rate rises at 60 per cent and 75 per cent LTV.

The four buy-to-let deals are two and five-year fixes at 60 and 75 per cent LTV, all with £1,499 fee.

A Santander spokeswoman said: “We regularly review our products and make changes to ensure we can continue to offer the best service to customers buying their homes.”

 

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