Santander is increasing rates by up to 20 basis points on a number of deals for new customers as well as on product transfers for existing customers tomorrow.

In its new business range at 85 per cent LTV, the lender is raising two and five-year fixed rates by up to 0.15 percentage points

Following the change its two-year fixed at 2.79 per cent with a £999 fee for borrowers with a 15 per cent deposit will increase to 2.89 per cent and its five-year fix in the same LTV tier will rise from 2.94 to 3.09 per cent with the same fee.

For existing customers, switcher rates up to 90 per cent LTV will increase by between 0.05 and 0.2 percentage points.

These rates will not be published on sourcing systems as they are personalised for different customers, but brokers can view the product transfer deals on offer to their clients through the online mortgage transfer service on Introducer Internet.

Full details of Santander’s new range will be published on the intermediary website tomorrow. 

End dates will roll on by one month to January 2 and the completion deadline will be rolled on by one month to February 5, 2021.