Santander increases BTL mortgage rates

Santander has increased a selection of its buy-to-let mortgage rates for purchase and remortgage. 

The lender has increased selected rates and fees at 60%, 75% and 85% loan-to-value (LTV) by up to 0.3%.

The changes will see two-year fixed rates with a £1,499 fee at 60% LTV, rise by 10bps to 1.49%. 

Fee-free two-year fixed rates now start from 2.14% and five-year rates from 2.29%, an increase of 30bps.

Products at 75% LTV have increased by between 20 and 30bps, with two-year fixed rates now starting from 1.69% with a £1,499 fee or 2.39% fee-free, while a five-year fixed rate starts from 2.69% with no fee.

Santander’s 85% LTV products have seen the largest hike, with rates up by 0.3% to 2.39% fixed for two years, and 2.69% for five years. 

At 60% LTV, two-year fixed rates now start at 1.49% and five-year fixes from 1.59%. 

At 75% LTV, Santander's two-year fixed rate now starts from 1.69%, while its five-year fixed rate now starts at 1.79%.

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