Santander is increasing rates on its residential and BTL products by between 0.05 per cent and 0.10 per cent following the decision last week by the Bank of England to increase the base rate from 0.25 per cent to 0.50 per cent.
All new business tracker pay rates will increase by 0.25 per cent in line with the base rate change.
Santander said no action was required for any pipeline cases and there are no changes to completion dates.
A two year-fixed remortgage at 75 per cent loan to value (LTV) with a £999 fee has been increased by 0.05 per cent to 1.44 per cent, as well as a purchase alternative the same tier with a £999 fee, which has risen to 1.39 per cent.
Also increased by 0.05 per cent is Santander’s 75 per cent LTV fee-free remortgage, now priced at 1.64 per cent and the purchase equivalent now has a rate of 1.59 per cent.
The 80 per cent LTV, the purchase product with a £999 fee has increased by 0.05 per cent to while the remortgage has gone up by the same to 1.49 per cent. At 85 per cent LTV, the £999 fee paying remortgage has increased by 0.05 per cent to 1.54 per cent.
Across its two year fixed rate buy to let mortgages, rates have been increased by as much as 0.10 per cent at 60 and 75 per cent LTV.
Five-year fixed BTL rates across the same tiers have risen by 0.05 per cent.
All tracker pay rates, including follow-on-rate, will go up by 0.25 per cent in line with the base rate increase. Residential product transfers have increased by 0.05 per cent, while BTL and consent to let products have risen by either 0.05 or 0.10 per cent.
TSB
TSB announced it had raised its homeowner variable rate to 3.99 per cent and its BTL variable rate to 4.84 per cent. This follows the base rate decision and changes applied from 7 February.
