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Santander Raises Mortgage Rates and Expands 10-Year Fixed Options

Santander has announced increases to its mortgage rates across both new business and product transfer ranges, effective from 22 July 2026. The lender has also introduced new 10-year fixed rate and new-build mortgage options.

The rate increases will affect a range of products, with higher loan to value (LTV) deals seeing larger rises. For first-time buyers, a two-year fixed rate at 60% LTV with a £999 fee and £250 cashback will increase by 0.16% to 4.6%. The equivalent product at 90% LTV will rise by 0.3% to 4.99%.

For homemovers, the two-year fixed rate at 60% LTV with a £1,499 fee and £250 cashback will go up by 0.23% to 4.55%. The 90% LTV option for homemovers will increase by 0.25% to 4.89%.

Across Santander’s product transfer range, all one-, two-, five-, and seven-year fixed residential rates will rise by up to 0.2%.

On the buy-to-let (BTL) side, Santander has applied increases of up to 0.25% to all two- and five-year fixed rates at 60% and 75% LTV.

Santander has also expanded its 10-year fixed rate range, now offering options from 85% to 95% LTV for first-time buyers and homemovers. These products are priced the same for each borrower type. The 10-year fix at 85% LTV comes with a £999 fee and £250 cashback at 5.49%, or 5.59% with no fee. At 90% LTV, the rate is 5.59% with a £999 fee or 5.69% with no fee. The fee-free 95% LTV deal is priced at 5.8%.

Additionally, Santander has introduced new-build exclusive products with a £1,499 fee, available on two-, five-, and 10-year fixed rate terms.

Santander is the latest lender to increase rates in response to rising swap rates, following similar moves by NatWest, Nationwide, HSBC, and Halifax in recent days.