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Santander ups rates; Platform withdraws select deals – round-up

  • 04/07/2023
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Santander ups rates; Platform withdraws select deals – round-up
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. 

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