Bad news for landlords as lender increases rates on BTL mortgages

Bad news for landlords as lender increases rates on BTL mortgages


Todays other news
Some cases are involving a potential minimum £17,000 fine for...
The council is using new powers under the Renters Rights...
Case numbers have risen by as much as 56%...
The data comes from Pegasus Insight...
Long-term vacant means they have been sitting empty for more...


Santander today in increases selected residential new business fixed-rate deals, as well as some landlord and residential offers.

Advertisement

It is also lifting the maximum loan size on selected residential fixes and withdrawing some buy-to-let tracker deals.  

Advertisement

Changes are: 

Advertisement

– New 75% LTV landlord two-year tracker rate at 5.64%, with a £1,999 product fee;

– All other BTL tracker products will be withdrawn;

Advertisement

– Selected residential fixed rates increase by between 4bps and 33bps for purchases and remortgages;

– Maximum loan size increase on selected residential fixed rates to £1m from £570,000 at 90% loan to value  

Advertisement

And on product transfers:

– Selected BTL fixed rates increase by between 11bps and 15bps;

– New BTL two-year tracker rate at 5.64%, with a £1,999 product fee;

– All other BTL two-year tracker products will be withdrawn;

– Selected residential fixed rates increase by between 8bps and 23bps.

The Bank of England last week left interest rates on hold at 5.25%, a 16-year high, for the sixth time in a row..   

 

 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Landlord Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
9 Comments
Oldest
Newest Most Voted
Recommended for you
Related Articles
Stressful woman overwhelmed by bills and financial paperwork at home.
The data comes from Pegasus Insight...
House for rent sign in front of a blurred residential property.
Website SpareRoom has looked at 35 cities...
Stacked coins with a house-shaped sign saying Property Tax.
A law firm has seen a programme of activity planned...
Downward trend graph with coins and a business figure, representing economic decline.
Landlords hoping for capital appreciation may be disappointed...
The figures come from lenders' trade body, UK Finance...
Tenants are increasingly discerning, claims the agent...
A prominent agent says he’s expecting a “significant shift” in...
Recommended for you
Latest Features
Louisa Sedgwick is Managing Director of Mortgages at Paragon Bank...
Rent challenges may encourage annual reviews and put pressure on...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.