You are here: Home - News -

Santander and TSB raise mortgage rates – round-up

  • 25/04/2022
  • 0
Santander and TSB raise mortgage rates – round-up
Santander has increased mortgage rates by as much as 55 basis points (bps) on new business and product transfer deals.


The largest increase has been made to the 2.5-year fixed rate Help to Buy mortgage at 75 per cent loan to value (LTV) with a £999 fee, which has risen from 2.24 per cent to 2.79 per cent. 

Other Help to Buy deals at the same lending tier fixed for two and five years have also gone up by 0.50 per cent. 

Purchase mortgage rates for residential borrowers have increased by as much as 45 bps between 60 and 95 per cent LTV, both for deals with no fees and fees of £999. At 60 per cent LTV, a two-year fixed rate with a £999 fee has gone up by 0.40 per cent to 2.54 per cent while at 95 per cent LTV, a fee-free five-year fixed rate has increased by the same amount to 3.39 per cent. 

Two and five-year fixed rate purchase and remortgage products for buy-to-let borrowers at 60 and 75 per cent LTV have risen by as much as 0.45 per cent. 

For product transfer, all fixed rates have increased by up to 0.45 per cent and two-year trackers have gone up by between 0.20 and 0.25 per cent. 

Other ranges to see rate increases include the bank’s mortgages for new build and large loan deals. 

Santander has also added fee-free products to its range for residential purchase, residential remortgage and buy-to-let remortgage only. 


TSB ups rates

TSB has increased rates by as much as 0.20 per cent. 

These changes apply to two-year fixed rate buy-to-let purchase, remortgage and product transfer deals up to 80 per cent LTV. 

For residential borrowers, product transfer rates have gone up by 0.15 per cent on two-year fixed rates up to 80 per cent LTV and on five-year fixed rates between 75 and 85 per cent LTV. 

The bank has also launched five-year fixed rate mortgage for first-time buyers, home movers and shared ownership borrowers purchasing new build homes requiring loans between 85 and 90 per cent LTV. 


There are 0 Comment(s)

You may also be interested in