Santander for intermediaries will pull selected residential fixed-rate deals at 10pm tonight (26 June), and will hike other home and landlord loans for new customers by as much as 46 basis points tomorrow.  

The high street bank’s broker-only arm says it will withdraw all two- and five-year residential 60% loan-to-value fixed-rate offers late this evening. Full mortgage applications must be submitted before this deadline.  

Thee-year 60% LTV standard residential fixed-rate loans are unchanged.  

It adds that “no action is required” for pipeline cases.  

The move comes after the Bank of England hiked the base rate by 50 basis points to 5% last week, its 13th rate rise in a row taking it to the highest level in 15 years.     

Santander for intermediaries adds that for existing Santander and Alliance & Leicester customers who are on a base rate tracker mortgage, their pay rate will increase by 50bps from the beginning of August.   

The standard variable rate remains unchanged.  

Notable changes among its new business range include:  

• Standard residential purchase fixed-rate deals will increase by between 5bps and 25bps  
• Standard residential remortgage fixed-rate loans will lift by between 5bps and 46bps  
• Large loan residential purchase fixed-rate offers will rise by up to 20bps   
• Large loan residential remortgage fixed-rate loans will rise by up to 32bps  
• Buy-to-let purchase fixed-rate deals will lift by between 20bps and 32bps  
• BTL remortgage fixed-rates offers will increase by between 20bps and 42bps