Effective from 31 January, pricing will be increased across purchase, remortgage, first-time buyer, green, buy-to-let (BTL) and additional borrowing mortgage products.
This includes its fee-free two-year fixed purchase product, which will rise by 0.1% to 3.97%, the option with a £995 fee, which will be increased by 0.08% to 3.64%, and the alternative with a £1,495 fee, which will also go up by 0.08% to 3.59%.
The equivalent products at 75% LTV will increase by 10 basis points (bps) to 4.13%, 7bps to 3.89% and, again, 7bps to 3.84% respectively.
Pricing has been adjusted up to 95% LTV, with the fee-free product at this tier going up by 0.9% to 4.73%.
Smaller increases have been made to NatWest’s five-year fixed purchase mortgages, with the fee-free product at 60% LTV rising by 0.01% to 3.89%. The products with a £995 or £1,495 fee will increase by 0.03% apiece to 3.78% and 3.73% respectively.
Earlier this week, NatWest increased the loan-to-income (LTI) multiple to six times income for selected mortgage borrowers.
TSB increases mortgage rates and amends foreign borrower criteria
TSB has increased pricing on two-year fixed remortgages at 60-75% LTV by as much as 0.1%.
This applies to products with £1,495 and £995 fees.
Now, TSB offers a two-year fixed remortgage at 60-75% LTV with a £995 fee and a rate of 3.84%, or 3.79% with a £1,495 fee.
Additionally, the lender has updated its criteria for foreign national borrowers by increasing the maximum LTV available.
This has gone up to 85% LTV for borrowers with a sole income of £50,000 or a joint income of £75,000 or above.
TSB has also added to its acceptable visas list, allowing for borrowers without permanent rights to reside.
It has standardised its deposit policy and will now consider gifted deposits.
Earlier this month, the firm decreased rates across its BTL product range.
Santander updates affordability
Santander has revised the household expenditure figures it uses for residential borrowing, which will apply from 3 February.
Further, it has increased BTL affordability rates marginally, with them rising from 6.99% to 7% for standard borrowing and from 4.99% to 5% for five-year fixes and pound-for-pound remortgaging.
This change will also apply from 3 February.
The bank also announced rate increases to selected residential, BTL mortgages, for purchase, remortgage and product transfer. Increases of up to 0.07% will be made from 3 February.
Earlier today, the bank announced the appointment of Mahesh Aditya as the chief executive of Santander UK Group Holdings and Santander UK.
