From Tuesday 15th October, Santander will make several adjustments to its mortgage rates, affecting both new business and product transfer customers.
These changes will include reductions and increases to various fixed-rate products, while leaving tracker rates unchanged.
For new business residential remortgage clients, Santander will reduce selected fixed rates by up to 0.13%.
Additionally, all large loan fixed rates will see a reduction of 0.10%.
However, certain other fixed rates will increase, with residential fixed rates for purchases, remortgages, and green products going up by as much as 0.22%.
New-build fixed rates are also set to rise by up to 0.10%, while buy-to-let and green buy-to-let fixed rates will increase by 0.03%.
In the product transfer range, selected residential fixed rates will decrease by up to 0.16%, but some will also increase by up to 0.12%.
Buy-to-let fixed rates will experience a slight rise of 0.03%.
For clients considering or already in the process of a product transfer, if they have not yet accepted their offer, they can select a new product via the online mortgage transfer service and a new offer will be issued.
If they have already accepted their deal, they can still change or cancel the existing deal, provided this is done at least 14 days before the new deal starts.
However, once a product transfer is pending, no further changes can be made to the mortgage, such as switching to interest-only payments or increasing the loan term.
The lender urged that applications for both new business and product transfers under the current ranges be submitted by 10pm today, Monday 14th October.
