Santander will raise buy-to-let fixed rates by up to 0.25 percentage points from 22 July, extending the latest repricing wave for landlords just days after other major lenders moved higher.
The bank said all two- and five-year buy-to-let fixes at 60% and 75% loan to value will increase, alongside wider rises across its residential range. The change lands as swap rates have pushed higher again, leaving landlords with a narrower window to secure cheaper refinance terms before fresh pricing filters through the market.
For landlords, the immediate point is timing. Santander is not a fringe lender move. When a mainstream name lifts buy-to-let pricing across core LTV bands, it usually confirms that borrowing costs are moving up faster than many investors would like just as remortgage pressure remains heavy.
Santander adds to the latest mortgage repricing wave
Mortgage Solutions reported that Santander’s buy-to-let rate rise reaches 0.25 points, while some residential deals will rise by as much as 0.3 points. The lender is also adding new 10-year and new-build options, but the headline for landlords is the higher cost of standard fixed-rate debt from 22 July.
That matters because many portfolio landlords are still refinancing loans written in a much cheaper market. Even modest product changes now can alter deal economics when investors are working through multiple expiries or trying to preserve margin on lower-yielding stock.
This follows Residential Landlord’s recent coverage of NatWest’s latest repricing wave for landlords, which showed how quickly swap-rate pressure was feeding back into mortgage costs. Santander’s move suggests that pressure has not faded.
It also builds on Residential Landlord’s reporting on rising buy-to-let remortgage demand. In that context, each new lender increase matters because more landlords are chasing refinance options at the same time, not fewer.
Landlords may need to decide faster on refinancing
The practical warning is that waiting for a better deal can now work against borrowers if lenders keep repricing in batches. Santander’s update may not be the last this week, and brokers are already flagging a market where product shelves can change quickly once funding costs move.
Landlords should still look past the headline pay rate. Fee structure, stress testing, property type and borrower status can all change the real cost of a refinance. But a broad Santander increase at 60% and 75% LTV is still a useful market signal because those are common bands for established landlords with equity in place.
The bank’s mortgage comparison page is here.
Opinion
Landlords do not need to panic every time a lender reprices, but they do need to treat these moves as a trend rather than a one-off. The cheap-window story has become a speed story: get the right refinance lined up quickly or risk watching the numbers worsen while you wait.
