Related topic: Santander

63% of borrowers say they could not have completed the homebuying process without a broker.

The increases reverse many of the rate cuts introduced early last week.

The bank has announced a range of rate reductions across higher LTV first-time buyer products – including its new 98% LTV My First Mortgage.

The new proposition allows eligible first-time buyers to borrow up to 98% LTV, with a minimum deposit of £10,000.

The lender is offering the lowest 95% LTV rate currently available on the market following the reductions.

Merritt was previously director of mortgages at Yorkshire Building Society and executive director at Accord. 

52% of UK adults said they found saving money for a deposit to be the biggest barrier to buying a property.

Purchase, remortgage, home mover and buy-to-let rates are all affected by the latest increases.

New business and product transfer fixed rates are seeing increases.

The bank has renewed its broker pledges for 2026.