Santander is temporarily removing all 60% and 85% loan-to-value (LTV) products from its new business range.
The majority of its new business residential and buy-tolet fixed rates will also increase by up to 0.40% and product transfer fixed rates will increase by up to 0.30%.
In addition, following last week’s Bank of England base rate increase from 1.75% to 2.25%, the pay rates on all its new business and product transfer base rate trackers (including Follow-on Rate) are increasing by 0.50%.
These changes come into effect as of tomorrow (Wednesday 28th September).
Santander said that no action is required for pipeline cases but added that it must receive FMAs by 10pm tonight (Tuesday 27th September).
