New business 60% LTV withdrawals and other changes
On Wednesday 19 January we’re making changes to our new business and product transfer ranges.
New business
In response to market conditions, we’re temporarily removing all 60% LTV fixed rate products and increasing rates or fees on selected products. The great news is we’re reducing some higher LTV rates.
- Withdrawal of all residential 60% LTV fixed rate products.
- Fees which were previously £749 increased to £999.
- Rate increases on most fixed rates under 85% LTV.
- Rate reductions on most fixed rates 85% LTV and over.
Product transfers
We’re updating our range as follows:
- Selected fixed and tracker rates are increasing by between 0.05% and 0.15%.
- Selected 85% LTV fixed and selected tracker rates are reducing by between 0.05% and 0.20%.
- Buy to Let 2 year fixed rate at 75% LTV increasing by 0.05%.
- 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.
Further information
For full details of our new business mortgage range please see the Rate Bulletin (Issue 1) which will be available on our website on Wednesday 19 January.
Help to Buy 5 year fixed rates now have a 9 month completion deadline.
- Completion deadlines have been rolled on to:
- 5 June 2022 for product transfers
- 8 July 2022 for remortgages
- 29 July 2022 for purchases
- Roll on of our charge and benefit end dates by one month.
- Fixed product codes will be replaced on all new business products and product transfers.
