Santander Update

Santander rates update

Reductions and increases across our new business and product transfer ranges

On Friday 3 December, we’re making changes to selected residential and Help to Buy products across our new business and product transfer mortgage ranges.

New business range

We’re increasing selected lower LTV rates by up to 0.15% and decreasing selected higher LTV rates by up to 0.16%

Increases – 2 year fixed rates

• 60% LTV 2 year fixed rate at 1.29% with £999 fee remortgage – rate increased by 0.15%
• 60% LTV 2 year fixed rate at 1.24% with £999 fee purchase – rate increased by 0.11%
• 60% LTV 2 year fixed rate at 1.44% with £0 fee purchase – rate increased by 0.15%
• 75% LTV 2 year fixed rate at 1.34% with £999 fee remortgage – rate increased by 0.15%
• 75% LTV 2 year fixed rate at 1.29% with £999 fee purchase – rate increased by 0.10%
• 75% LTV 2 year fixed rate at 1.49% with £0 fee purchase – rate increased by 0.05%

Reductions – 2 year fixed rates – purchase only

• 90% LTV 2 year fixed rate at 1.74% with £749 fee – rate decreased by 0.08%
• 90% LTV 2 year fixed rate at 1.99% with £0 fee – rate decreased by 0.10%
• 95% LTV mortgage guarantee scheme 2 year fixed rate at 2.69% with £0 fee – rate decreased by 0.14%

Increases – 5 year fixed rates

• 60% LTV 5 year fixed rate at 1.44% with £999 fee remortgage – rate increased by 0.10%
• 60% LTV 5 year fixed rate at 1.39% with £999 fee purchase – rate increased by 0.05%
• 60% LTV 5 year fixed rate at 1.64% with £0 fee remortgage – rate increased by 0.05%
• 60% LTV 5 year fixed rate at 1.59% with £0 fee purchase – rate increased by 0.05%
• 75% LTV 5 year fixed rate at 1.54% with £999 fee remortgage – rate increased by 0.06%
• 75% LTV 5 year fixed rate at 1.64% with £0 fee remortgage – rate increased by 0.02%

Reductions – 5 year fixed rates – purchase only

• 85% LTV 5 year fixed rate at 1.99% with £999 fee – rate decreased by 0.04%
• 85% LTV 5 year fixed rate at 2.19% with £0 fee – rate decreased by 0.05%
• 90% LTV 5 year fixed rate at 2.39% with £999 fee – rate decreased by 0.11%
• 90% LTV 5 year fixed rate at 2.59% with £0 fee – rate decreased by 0.09%
• 95% LTV mortgage guarantee scheme 5 year fixed rate at 3.09% with £0 fee – rate decreased by 0.16%

Increases – Help to Buy – purchase only

• 60% LTV 2 year fixed rate at 1.29% with £499 fee – rate increased by 0.05%
• 60% LTV 2.5 year fixed rate at 1.34% with £499 fee – rate increased by 0.05%
• 60% LTV 2 year fixed rate at 1.49% with £0 fee – rate increased by 0.09%
• 60% LTV 5 year fixed rate at 1.64% with £0 fee – rate increased by 0.05%

Further information

Completion deadlines for the 3 December new business range are as follows:

• 6 May 2022 for remortgages
• 31 May 2022 for purchases

For full details of our new business mortgage range please see the Rate Bulletin (Issue 20) which will be available on our website on Friday 3 December.

Product transfer range

• We’re increasing 2, 3 and 5 year residential fixed rates at 60% and 75% LTV by up to 0.25%.
• The completion deadline for the 3 December product transfer range is 5 April 2022.

Santander product transfer rates are personalised to each customer, so you won’t find them on sourcing systems. Please log on to our Online Mortgage Transfer Service in Introducer Internet on behalf of your client to view the rates available to them.