Santander increases low-LTV fixes and reduces buy-to-let remortgage rates

Santander has announced that it is increasing lower LTV fixed rates for first-time buyers, home mover, new build and remortgage by up to 0.13% "due to market conditions".

While it is holding the majority of residential fixed rates over 75% LTV, all 60% LTV two, three and five-year first-time buyer fixed rates are increasing by up to 0.13%. All 85% LTV two and five-year fixed rates increasing by up to 0.06% and 95% LTV three-year fixed rate going up by 0.09%.

For home movers, all 60-75% LTV two-year fixed rates, including new build products, have increased by up to 0.05% and all 60% LTV five-year fixed rates have risen by up to 0.08%.

For residential remortgage, all 60% LTV two-year fixed rates are increasing by up to 0.06%. 75% LTV three-year fixed rates with £0 fee are going up by 0.01% and all 60-75% LTV five-year fixes have increased by up to 0.10%.

In addition, Santander is reducing all 60%, 65% and 75% LTV fixed rates in its buy-to-let remortgage range by up to 0.15% and is withdrawing "less popular" 70% LTV buy-to-let remortgage fixed rates.

For product transfers, all buy-to-let 75% LTV two-year fixed rates are reducing by 0.06% and all 60-75% LTV five-year fixes are down by up to 0.10%. 

Conversely, all residential 60% and 75% LTV seven-year fixed rates are increasing by up to 0.06%.

There are no changes to Santander's buy-to-let purchase range, large loan rates or trackers.