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Santander, HSBC and TSB to make rate changes – round-up

Santander, HSBC and TSB to make rate changes – round-up
Anna Sagar
Written By:
Posted:
January 16, 2025
Updated:
January 17, 2025

Santander will change select new business and product transfer rates by up to 0.34% and will withdraw select deals from 17 January.

In an update, the lender said it would be withdrawing its £250,000 maximum loan purchase range.

On the new business side, the lender is increasing select standard residential fixed rates in its purchase remortgage and green ranges by up to 0.34%.

The majority of new-build fixed rates will be upped by 0.2%, while some are being cut by up to 0.16%.

All large loan fixed rates and green buy-to-let (BTL) fixed rates will rise by 0.14% and 0.2%. Select BTL fixed rates will increase by 0.15%.

On the product transfer side, select residential fixed rates will fall by up to 0.15% and other residential fixed rates will rise by up to 0.18%.

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Select BTL fixed rates will go up by 0.15%.

 

HSBC to increase residential and BTL rates

High street lender HSBC will increase rates across its residential and BTL ranges from 17 January.

For existing residential customers switching or borrowing more, two-, three- and five-year fixed rate standard products and two- and five-year fixed premier exclusive products will rise.

Existing residential customer switching two-, three- and five-year fixed rate fee-saver deals up to 95% loan to value (LTV) will go up, whereas for existing residential customer borrowing more deals, the limit is 90% LTV.

Within the residential first-time buyer and homemover ranges, two- and five-year fixed fee-saver products up to 90% LTV will increase, and standard and premier exclusive products up to 90% LTV will also rise.

Two- and five-year fixed high-value mortgages up to 75% LTV will also increase in this range.

Residential first-time buyer and homemover energy-efficient home no-fee deals on two- and five-year terms up to 95% LTV will go up, while standard deals up to 90% LTV will rise.

On the remortgage side, two- and five-year fixed fee-saver, standard and premier exclusive deals up to 90% LTV will increase and high-value mortgages up to 75% LTV will go up.

Two- and five-year energy-efficient home remortgages, residential remortgage cashback and the latter’s energy-efficient home equivalent, including standard and fee-saver, up to 90% LTV will increase.

On the BTL side, two-year fee-saver deals in its existing customer switching and borrowing more range at 75% LTV will rise, while two-year standard and five-year fee-saver deals from 60% to 75% LTV will go up. Five-year standard products from 60% to 65% LTV will go up.

Two- and five-year BTL remortgage fee-saver standard and standard products with a £3,999 fee up to 75% LTV will increase.

In its international residential range, two-, three- and five-year fixed fee-saver deals from 60% to 75% LTV will rise, along with standard products. Two- and five-year fixed premier exclusive deals from 60% to 75% LTV will also rise.

The exact rate increases were not included.

 

TSB ups residential rates

TSB will make select residential rate increases from 17 January, with rises of up to 0.15% on the cards.

The lender’s two-year fixed first-time buyer and homemover deals up to 75% LTV with a £995 fee will rise by 0.1%, along with its five-year fixed first-time buyer and homemover products from 75% to 85% LTV.

TSB’s two-year fixed remortgage products and its three-year fixed first-time buyer and homemover deals up to 75% LTV will be upped by 0.15%.

The firm added that it was combining its shared ownership and shared equity deals, with pricing beginning from 4.44%.

The range includes a two-year fixed fee-free remortgage with £500 cashback and two- and five-year fixed first-time buyer and homemover deals with no-fee and £995 fee options.

Shared ownership products above 85% LTV come with £500 cashback, and the lender said first-time buyer and homemover deals up to 85% LTV will no longer have £500 cashback.

There has been a raft of lender rate changes this week, with Virgin Money, Zephyr Homeloans and Vida changing their rates at the start of this week.