Santander for intermediaries has raised selected residential and landlord rates for new and existing borrowers by up to 67 basis points.
The high street bank’s broker-only arm also introduces new 60% loan-to-value buy-to-let fixed-rate deals and withdraws large loan BTL fixed-rate products.
Highlights of the changes include:
New business
- Residential fixes lift by between 13bps and 36bps
- BTL fixes rise by between 5bps and 29bps
- Launches BTL 60% LTV two- and five-year remortgage and purchase fixes
- BTL fixes product fees rise to £1,749 from £1,499. No fee options are still available
- BTL larger loan exclusive rates are withdrawn
Product transfers
- Residential fixes rise by between 16bps and 65bps
- BTL fixes are up by between 30bps and 67bps
- New residential one-year fixes at 6.32%, with a reduced product fee of £499 available up to 90% LTV
- Residential one-year fixes, with no product fee, lift by 16 bps to 6.50%, available to above 90% LTV
- All other residential one-year fixes are withdrawn
The firm says: “As this relaunch is within 14 days of Thursday 3 August, we’re applying an exception to our cancellation post-acceptance policy.
“We’ll allow any pre-booked deals due to start on Thursday 3 August to be cancelled until 10pm on Wednesday 26 July.”
The lender adds that this exception provides two days to identify and submit cancellation requests. Requests after this date will be rejected. All other criteria remain unchanged.
