Santander increases residential rates by up to 0.33%

The bank has also withdrawn buy-to-let tracker products and increased its maximum residential loan size.

Related topics:  Mortgages
Rozi Jones | Editor, Financial Reporter
14th May 2024
Santander sign

From today, Santander is increasing selected residential fixed rates in the new business range as well as selected residential and buy-to-let product transfer rates.

In its purchase range, selected fixed rates have risen by between 0.04% and 0.33% for purchases and remortgages.

In addition, the lender has introduced a new 75% LTV buy-to-let two-year tracker rate at 5.64% with a £1,999 product fee.

All other buy-to-let tracker products are being withdrawn.

In its product transfer range, selected residential fixed rates have increased by between 0.08% and 0.23% and selected buy-to-let fixed rates by between 0.11% and 0.15%.

The new 75% LTV tracker at 5.64% will also be available for product transfers, and all other two-year tracker products have been withdrawn.

In addition, Santander is increasing the maximum loan size on selected residential fixed rates from £570,000 to £1 million at 90% LTV.

As part of the latest changes, new business and product transfer completion deadlines and charge end dates will roll on by one month.

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