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Santander adds 95 per cent LTV; Co-op Bank adjusts rates – round-up

  • 11/03/2024
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Santander adds 95 per cent LTV; Co-op Bank adjusts rates – round-up
Santander has launched a two-year fixed rate mortgage at 95 per cent loan to value (LTV).

The 95 per cent LTV product has a rate of 5.92 per cent with no product fee and offers £250 cashback. It is available for residential purchase. 

Alongside the launch of its 95 per cent LTV offering, the lender has also reduced select mortgage rates while increasing others. 

For new business, select residential remortgage rates will be reduced by between 0.08 per cent and 0.23 per cent, while other purchase and remortgage deals will go up in rate by between 0.06 per cent and 0.43 per cent. 

Its residential tracker rates for new borrowers either purchasing or remortgaging will increase by between 0.01 per cent and 0.32 per cent. 

Santander is also lowering all buy-to-let (BTL) fixed rates by between 0.09 per cent and 0.23 per cent. 

Across its product transfer range, the lender’s fixed residential rates are going up by between 0.02 per cent and 0.36 per cent, while tracker rates are rising by between 0.02 per cent and 0.14 per cent. 

The five-year fixed product transfer rate for BTL borrowers will increase by 0.04 per cent. 

The changes will apply from 12 March. 

At the end of February, Santander added three-year fixes for new builds.


Co-op Bank amends rates 

The Co-operative Bank has made increases and reductions to select mortgages. 

Its two- and five-year fixed residential products with a £1,999 fee have risen by up to 0.22 per cent, while the three-year fixed deals with a £999 fee have decreased by up to 0.06 per cent. 

Across its professional mortgage range, the Co-op Bank has cut fee-free two-year fixed product rates by up to 0.14 per cent, and five-year fixes by as much as 0.1 per cent. 

Its BTL rates have also risen, with increases of as much as 0.19 per cent across two-year fixes and up to 0.05 per cent across five-year fixes. 

The Co-op Bank has also increased its product transfer rates.

For residential product transfer deals, rates across two-, three- and five-year fixes have increased by up to 0.72 per cent, while two-, three- and five-year fixes for BTL switches have risen by up to 1.09 per cent. 

Help to Buy product transfer rates fixed for two-, three- and five-years have gone up by up to 0.72 per cent. 

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