Santander has announced it will be amending select mortgage rates on 15 October, with increases and cuts of up to 0.22%.
This follows the news that Santander would be temporarily withdrawing some of its cheaper mortgage rates at 10pm today.
These changes related to a five-year fix at 60% loan to value (LTV) priced at 3.68% with a £999 fee, five-year fixes at 75% LTV, priced at 3.92% with a £999 fee and 4.02% with no fee, as well as corresponding deals at 85% LTV and 90% LTV, with rates of 4.15%, 4.34%, 4.49% and 4.64%.
It said it would also withdraw its five-year fixed green remortgage at 75% LTV with a £999 fee and rate of 3.89%.
Rate changes
As of 15 October, Santander will increase select new business residential rates across fixed purchase, remortgage and green products by as much as 0.22%.
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Select new-build mortgage rates will rise by as much as 0.1%, while there will be a 0.03% increase to certain buy-to-let (BTL) and green BTL products.
Also within its new business range, Santander will reduce select residential remortgage rates by up to 0.13%, and all large loan rates by 0.1%.
Changes are also being made to its product transfer rates, with the lender cutting select residential rates by 0.16% while increasing others by 0.12%.
Select BTL product transfer rates will go up by 0.03%.
Earlier this week, some brokers suggested that some mortgage rates could begin to rise after a period of successive reductions. This was attributed to an increase in swap rates, which as of 9 October were 4.04% for a two-year swap and 3.78% for a five-year swap, slightly down from respective rates of 4.06% and 3.81% on 7 October.
