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Santander reintroduces new business rates and ups other deals

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  • 14/06/2023
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Santander reintroduces new business rates and ups other deals
Santander has brought its new business residential and buy-to-let deals back to market following temporary withdrawal on Monday.

The lender said that there was a new range of new business fixed and tracker rates for residential and buy-to-let clients.

On the product transfer side, all residential fixed rates have gone up between 0.4 per cent and 0.65 per cent, with rates starting at 5.23 per cent for a two-year fixed rate at 60 per cent loan to value (LTV) with £999 fee.

Five-year residential fixed rates are priced from 4.83 per cent with a £999 fee.

Buy-to-let fixed rates will rise by around 0.2 per cent, with rates beginning from 5.44 per cent for a two-year fixed rate at 75 per cent LTV.

Five-year fixed rates start at 4.82 per cent at 60 per cent LTV.

The lender has also brought back residential tracker deals and are now priced from 4.94 per cent for a two-year fixed rate at 60 per cent LTV.

Santander temporarily withdrew its new business range on Monday citing current market conditions.

Several lenders have briefly removed their products due to economic uncertainty, including HSBC last week.

Brokers are now calling for minimum product withdrawal notice periods of 24 hours, with a group of advisers launching The Broker Collective to campaign on this.

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