Santander is increasing rates across its mortgages for new borrowers by as much as 0.37 per cent.
The lender’s residential fixed rate purchase mortgages will rise by 0.09 per cent to 0.36 per cent, while remortgage options will increase by between 0.15 per cent and 0.33 per cent.
Santander will also standardise the pricing across its residential mortgages at 80 per cent loan to value (LTV) and 85 per cent LTV.
Additionally, the lender will increase the rates across its purchase and remortgage buy-to-let products by between 0.1 per cent and 0.37 per cent.
The changes will be effective from 5 July.
Platform removes deals
Platform has pulled certain mortgages from its product switch range.
This includes the removal of its residential product transfers at 60 per cent LTV, fixed for either two, three or five years.
Options remain at 70 to 90 per cent LTV, while tracker products are still available at 60 to 90 per cent LTV.
The lender will continue to offer fixed rate product transfers for buy-to-let and Help to Buy borrowers from 60 per cent LTV.
Platform’s mainstream, professional, buy-to-let and Help to Buy products for new borrowers are still unavailable and have been since the lender withdrew the options on 16 June.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
