Santander for intermediaries has said it is increasing selected standard residential fixed rates for purchase and remortgage clients.

Rates are increasing by between 0.05% and 0.20%.

The high street lender said it is withdrawing all residential first-time buyer exclusive fixed rates with £500 cashback.

It is also withdrawing residential 90% LTV three-year fixed rate at 5.18% with no product fee for purchase clients.

The new changes are effective from Wednesday (23 January).