Santander is set to temporarily withdraw eight of its new business residential purchase and green remortgage 5-year fixed rates, effective from 10pm today (Friday 11th October).
This decision impacts a select range of fixed-rate mortgage products, although there will be no changes to Santander’s residential tracker, buy-to-let mortgages, or product transfer ranges.
The bank also confirmed plans to relaunch its full new business and product transfer ranges on Tuesday 15th October, offering updated mortgage options for both new and existing customers.
Among the products being withdrawn are a 5-year fixed rate at 3.68% with a £999 fee for purchases up to 60% loan-to-value (LTV), and a 5-year fixed rate at 3.92% with a £999 fee for purchases up to 75% LTV.
Additionally, Santander will withdraw a 5-year fixed rate at 4.02% with no fee for purchases up to 75% LTV, and a 5-year fixed rate at 4.15% with a £999 fee for purchases to 85% LTV.
Other withdrawn products include a 5-year fixed rate at 4.34% with no fee for purchases up to 85% LTV, a 5-year fixed rate at 4.49% with a £999 fee for purchases with 90% LTV, and a 5-year fixed rate at 4.64% with no fee for purchases with 90% LTV.
For green remortgage customers, the 5-year fixed rate at 3.89% with a £999 fee for remortgages up to 75% LTV will also be withdrawn.
To secure one of these soon-to-be-withdrawn products, customers and brokers must submit full mortgage applications by 10pm today (Friday 11th October).
Any applications submitted after this deadline will require customers to select an alternative product from the available range.
Santander announced that full details of its new business range will be available in Rate Bulletin from 5pm today.
At that time, the bank will update its latest mortgage rates page to reflect the new product offerings.
