Santander becomes latest lender to push prices up

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Santander is the latest lender to announce rate increases, effective 22 July.

The lender has said it will push prices up on fixes rates across its new business range.

It also says there will be an expansion of its range with new 10-year fixes for first-time buyers and home movers across multiple loan-to-value (LTV) bands, including new build.

In addition, Santander will launch new two- and five-year fixes with a fee of £1,499 for new build clients.

Most product transfer residential and buy-to-let (BTL) fixed rates will be increased but there will be non changes to tracker rates in the lender’s new business and product transfer ranges.

Elsewhere, Accord Mortgages will push its prices up across residential and BTL new business products but will also make selected reductions to residential rates.

Within the lender’s residential range, fixed rates up to 85% LTV will rise by as much as 0.26% and fixed rates at 90% LTV will increase by as much as 0.22% or be lowered by up to 0.11%.

Accord will also increase tracker rates by up to 0.03% or reduce them by as much as 0.16%.

BTL two- and three-year fixes on all LTVs will rise by up to 0.07%, while five-year fixes on all LTVs will go up by as much as 0.09%.

In addition, tracker rates on all LTVs will rise by up to 0.07%.

Meanwhile, Newcastle for intermediaries has relaunched its joint mortgage sole proprietor range.

The lender says the relaunch is to “better reflect the changing needs of today’s homebuyers”.


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