Nationwide and Santander have both increased the rates on tracker mortgage products to reflect the base rate rising to 0.25 per cent last week.
Nationwide’s changes will apply to the mutual’s new business and existing products from today.
The two-year tracker product for home movers at 60 per cent loan to value (LTV) with a £1,499 fee has a rate of 0.94 per cent while the £999 fee option has a rate of 0.99 per cent. The fee-free alternative has a rate of 1.34 per cent.
At 95 per cent LTV, the two-year tracker with a £999 fee has a rate of 2.42 per cent and the fee-free product is priced at 2.54 per cent.
For first-time buyers, rates vary between 1.04 per cent at 60 per cent LTV with a £1,499 fee and 2.64 per cent for a fee-free tracker product at 95 per cent LTV.
For new home movers or first-time buyers, tracker rates begin at 1.14 per cent for a 60 per cent LTV deal with a £999 fee. For remortgaging borrowers, rates start from 1.04 per cent for a product with a £1,499 fee at 60 per cent LTV.
Santander
Santander’s rate changes apply to its two-year tracker products as of today.
At 60 per cent LTV, the rate is currently 1.64 per cent with a £999 fee while at 95 per cent LTV, the tracker product has a rate of 4.14 per cent with no fee.
All tracker products have no early repayment charges.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
