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Santander ups new business and PT rates; TSB pulls select five-year fixes – round-up

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  • 29/06/2022
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Santander ups new business and PT rates; TSB pulls select five-year fixes – round-up
Santander is increasing rates on new business and product transfer mortgages by as much as 0.55 per cent.

Residential purchase mortgages have seen rate increases of up to 0.5 per cent on mortgages up to 95 per cent loan to value (LTV). 

Changes include the two-year fixed rate at 75 per cent loan to value (LTV) product, which now has a rate of 3.09 per cent up – a 0.5 per cent increase. This product has a £999 fee.  

The rate on the five-year equivalent has risen by 0.4 per cent to 3.14 per cent.  

At the same lending tier, a fee-free deal has been introduced with a rate of 3.39 per cent. The rate is fixed for five years. 

At the other end of the scale, the fee-free five-year fixed rate at 95 per cent LTV has seen a rate increase of 0.15 per cent, up to 3.54 per cent. 

The rates of Santander’s new-build products at 75 and 85 per cent LTV, fixed for either two or five years, have risen by up to 0.5 per cent. Help to Buy deals at 75 per cent LTV have risen by up to 0.45 per cent while large loan products, across both purchase and remortgage, have gone up by as much as 0.5 per cent. 

Remortgages up to 90 per cent LTV have also seen rate increases and a fee-free, five-year fixed remortgage at 75 per cent LTV has been added with a rate of 3.44 per cent. 

Buy-to-let purchase and remortgage products have had rate increases of up to 0.5 per cent, while both residential and buy-to-let product transfers have risen by up to 0.55 per cent. 

The bank is also cutting the rate of its buy-to-let lifetime tracker by one per cent.  

Elsewhere, Santander has pulled first-time buyer exclusive deals at 85 and 90 per cent LTV, and withdrawn remortgages at 90 per cent LTV with £999 fees. 

 

TSB 

TSB has also pulled five-year fixes for first-time buyers and home movers with a £995 fee for residential borrowers. 

This change is effective from today. 

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