Santander is temporarily removing all its new business residential, buy-to-let let fixed and tracker rates at 7:30pm this evening.
According to a broker note, the lender attributed this to “current market conditions” but said that its product transfer range would still be available.
The bank said that it would be relaunching its new business range on Wednesday and that full mortgage applications should be issued by 7:30pm today.
A Santander spokesperson said: “We continually review our products in light of changing market conditions. As we prepare for a relaunch of a full range of mortgage products from Wednesday morning, we will not be accepting new applications via intermediary and online channels temporarily from this evening.
“Our product transfer range remains fully available and customers who have already applied will not be impacted.”
Santander follows the HSBC last week who temporarily withdrew new business residential and buy-to-let products.
Brokers are increasingly calling for extensions of product change notice periods, with many suggesting a minimum of 24-hours notice.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
