Santander has implemented rate increases for fixed rates for new contracts and product transfers.
The bank’s rates for new contracts have increased by as much as 0.10%.
These include the home mover, including new builds with all 60% and 75% loan-to-value (LTV) three-year fixed interest rates up by as much as 0.10%.
In addition, all five-year fixed interest rates with an LTV of 60% and 95% have increased by a maximum of 0.10%.
In the same range, starter rates, including new construction with a five-year fixed LTV rate of 85%, 90% and 95%, have increased by a maximum of 0.06%.
The mortgage lender’s prices for 60% LTV fixed rate properties over two years with a £1,999 fee have risen by 0.01% and all fixed rates at 60% and 75% LTV over five years have increased by up to 0.07%.
Product transfer products also increased by as much as 0.07%.
These include all residential fixed rates at 60% and 75% LTV with terms of five and seven years, which have increased by up to 0.07%.
In addition, the two-year fixed rate of 75% LTV with a £1,999 fee has increased by 0.01%.
Buy-to-let (BTL) product transfer products with a 60% LTV over two- and five-year fixed rates have risen by up to 0.06%.
Commenting on the rate changes, Aaron Strutt, product and communications director at Trinity Financial, said: “Santander has offered a wide range of cheapest solutions, so it’s no surprise that rates are going up slightly. No doubt they will come back down soon enough.”
Elsewhere, NatWest has announced product rate reductions for two- and five-year fixed rates.
Within the bank’s two-year fixed rate purchase range, the 95% LTV has been reduced by 8 basis points from 4.74% to 4.66%, and there are no product fees involved.
In addition, the 90% LTV has been reduced by 6 basis points from 4.20% to 4.14%, with a product fee of £995, the 60% LTV has been reduced by 5 basis points from 3.62% to 3.57%, with a product fee of £1,495, and the 60% LTV has been reduced by 5 basis points from 3.67% to 3.62%, with a fee of € 995,-.
For NatWest’s five-year fixed income purchase products, the 80% LTV has fallen by 14 basis points from 4.20% to 4.06%, without fees, while the 80% LTV has been reduced by 5 basis points from 4.03% to 3.98%, with a fee of £995.
The bank has also reduced prices on the 80% LTV, which has been reduced by 5 basis points from 3.98% to 3.93% with a £1,495 fee, and the 90% LTV, which has been reduced by 5 basis points from 4.33% to 4.28%, with no fees.