Santander has withdrawn all of its 60% LTV fixed rate products on what it says is a temporary basis “in response to market conditions.”
It has also made a series of rate and fee changes to its new business line up, mostly occurring throughout its residential products.
Rate increases of 5 basis points take place in the purchase and remortgage 75% LTV category for two-year fixes, while at 80% LTV and 85% LTV, a £250 fee increase for the 1.39% and 1.49% two-year fixes takes place, taking charges to £999.
The lender has also reduced some rates by up to 35 basis points.
Highlights include the 90% LTV two-year fix for purchase, which has received a 10 basis point cut to 1.64%. However, its fee, at £999, has been upped by £250.
Meanwhile, the 90% LTV five-year fix for purchase with zero fee has gone down by 10 basis points, to 2.49%, and the 90% LTV five-year fix for remortgage with zero fee has had 35 basis points cut, taking its rate to 2.99%.
A further highlight comprises the 90% LTV five-year fix for remortgage with £999 fee having 25 basis points removed, leaving its rate at 2.89%.
Meanwhile, in Santander’s Mortgage Guarantee Scheme product line, the 95% LTV two-year tracker with zero fee has been cut by 15 basis points, to 3.99%.
And the New Build 85% LTV two-year fix for purchase at 1.39% has had its fee increased by £250 to £999.
In the buy-to-let category, the 75% LTV two-year fix for remortgage with £1,499 fee has seen its rate rise by 5 basis points, to 1.39%.