The bank says this is due to a recent increase in five-year market swap rates. 

There are a total of six 3.99% mortgage products now available on the market.

The bank is also pledging no dual pricing and improving its product transfer process.

The bank is also temporarily withdrawing its green remortgage range for residential and buy-to-let customers.

The news of Vereker's departure has fuelled more speculation over Santander UK's future plans.

The bank plans to refocus on its core strengths in Asia and the Middle East. 

The bank is reportedly exploring a number of strategic options, one of which is exiting the British market.

New build, large loan and buy-to-let rates are among the rate increases.

The Bank has also introduced £250 cashback on high-LTV borrowing.

The Bank has also reintroduced 60% LTV green remortgage rates and new 60% and 75% LTV two-year fixes.