Santander has made changes to its buy-to-let (BTL) affordability rates, effective 20 November.

Rates will be lowered on the lender’s standard affordability rate from 7.31% to 7.15%. 

Meanwhile, both the five-year fixed and pound-for-pound remortgage affordability rates will be reduced from 5.31% to 5.15%.

Last week, Santander announced rate increases of up to 0.29% on selected standard residential fixed rates for purchase, remortgage, and green products.

There were rises of up to 0.20% on all large loan fixed rates and increases of up to 0.26% on all new build fixed rates.