Santander is making widespread fixed rate increases across its residential and buy-to-let new business and product transfer ranges from Tuesday 27th May, with the majority rising by 0.10%.
The bank confirmed that all 2- and 5-year fixed rates for standard home mover, first-time buyer, remortgage, and large loan segments will increase by 0.10%.
In the buy-to-let range, both purchase and remortgage 2- and 5-year fixed products are also set to rise by 0.10%.
For new build loans, Santander is applying a more selective approach. Most 2- and 5-year fixed rates for home movers and first-time buyers will rise by up to 0.10%, though some will see reductions.
Specifically, selected 75-85% LTV 2-year fixed rates for home movers are being cut by up to 0.04%, and all 90% LTV 5-year fixed rates will drop by 0.03%. In the first-time buyer new build bracket, the 85% LTV 2-year fixed rate will reduce by 0.01%.
There are no changes to tracker products at this time.
In the product transfer range, all residential 2-, 3-, 5- and 7-year fixed rates between 60-90% LTV will increase by 0.10%.
Likewise, buy-to-let 2- and 5-year fixed product transfer rates at 60-75% LTV are also going up by 0.10%.
