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Bad news for landlords as lender increases rates on BTL mortgages

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

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

Changes are: 


- 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- All other BTL tracker products will be withdrawn;

- 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  

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- All other BTL two-year tracker products will be withdrawn;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



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  • icon

    Not bad news for me, the couple I have left are nearly at the end of their term and mortgage free, and I will NOT be buying anymore 🎉🎉

  • icon

    So Santander is raising interest rates & slashing savings rates at the same time!

  • John  Adams

    They think they can make money so be it. In the meantime use a broker and find a better deal elsewhere.

  • icon

    They will soon enough be lucky if they can flog any new BTL mortgages. Few LL’s are investing and more are leaving altogether.
    It’s their loss that Mortgage Co’s have failed to get behind LL’s politically and their loan books are now plunging. Slap it up them!

  • icon

    They are one bank I would never deal with, either borrowing or saving


    Nor me, Andrew. Unlike the politicians, I have principles.

  • icon

    I'm mortgage free on all my remaining properties so won't be affected by any rate changes and I'll be selling up along the way... Time for a sharp exit!! I'll take the hit
    with capital gains. Incidentally.... I'm on my way home from Canada 🍁 as I type this and their capital gains is going up to 66% from June this year! I wouldnt be surprised if ours goes up again at some point despite the paltry recent 4% reduction.

  • icon

    I am sure we can all get our mortgage advisor to find better deal eg
    TMW Currently 5.49% with no fee. 75% ltv. 2 year fix.


    I've just re-mortgaged with Natwest at 5.24% 2yr fixed, no fee.


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