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Santander removes all 60 per cent LTV fixes and adjusts rates

  • 18/01/2022
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Santander removes all 60 per cent LTV fixes and adjusts rates
Santander has temporarily withdrawn all its residential fixed rate mortgages at 60 per cent loan to value (LTV) “in response to market conditions”, it said.


This includes two and five-year fixed mortgages either with no fee or with product fees up to £2,499, as well as equivalent products in its Help to Buy range. 

The lender has also increased fees and rates between 75 and 85 per cent LTV. Two and five-year fixes at 75 per cent LTV either with a £999 fee or no fee have been increased by 0.05 per cent. 

An 80 per cent LTV deal fixed for two years has also risen by 0.05 per cent to 1.44 per cent. This product is a remortgage and has a £999 fee. 

Additionally, the fees on a pair of two-year fixed 80 and 85 per cent LTV purchase mortgages have increased by £749 to £999. 

At 90 per cent LTV, a two-year fixed purchase product has had its rate reduced by 0.10 per cent to 1.64 per cent and the fee increased by £250 to £999. 

Among its product transfers, some fixed and tracker rates will rise by up to 0.15 per cent and at 85 per cent LTV, increases will be as high as 0.20 per cent. The rate on its buy-to-let two-year fixed product transfer at 75 per cent LTV has increased by 0.05 per cent. 

Santander offers personalised rates to borrowers who are transferring. 

Elsewhere, Santander has reduced rates at 85 to 95 per cent LTV by up to 0.35 per cent, with the biggest cut being made to its five-year fixed fee-free remortgage at 90 per cent LTV which now has a rate of 2.99 per cent. 

The changes will come into effect on 19 January. 

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