Santander increases residential and buy-to-let rates by up to 0.24%

Santander is increasing rates across its first-time buyer, home mover, large loan, remortgage and buy-to-let ranges by up to 0.24%.

The new rates, which the lender notes is "due to external factors", come into force from tomorrow.

Last week, accelerating conflict in West Asia caused volatility in swap rates. Santander had pressed ahead with cuts to its mortgage rates early last week, but is now reversing many of the reductions.

In Santander's first-time buyer and home mover ranges, all fixed rates are increasing by up to 0.24%. Its new 98% LTV 'My First Mortgage' is increasing by 0.21%, undoing the 0.20% reduction made last week.

All remortgage fixed rates are increasing by up to 0.24% and large loan fixed rates will rise by up to 0.21%.

In Santander's buy-to-let range, all purchase and remortgage rates are also increasing by up to 0.21%.

In addition, all residential and buy-to-let tracker rates are rising by 0.20%.

In Santander's product transfer range, residential and buy-to-let rates will also increase by up to 0.24%.