Sainsbury’s increases fixed residential mortgage rates

Sainsbury’s Bank has increased its rates across its residential product range following the Bank of England’s recent decision to raise the base rate.

The changes affect two- and five-year purchase and remortgage products.

The two-year purchase product changes are as follows:

  • 60 per cent LTV increased to 1.57 per cent with a £995 product fee
  • 60 per cent LTV increased to 1.92 per cent with no fee
  • 75 per cent LTV increased to 1.61 per cent with a £995 fee
  • 75 per cent LTV increased to 1.93 per cent with no fee

Additionally, the 80 per cent LTV 1.60 per cent product with a £995 fee will be withdrawn

As for five-year purchase product changes:

  • 60 per cent LTV increased to 2.05 per cent with a £995 product fee
  • 60 per cent LTV increased to 2.20 per cent with no fee
  • 75 per cent LTV increased to 2.07 per cent with a £995 fee
  • 75 per cent LTV increased to 2.22 per cent with no fee

Within two-year remortgages changes are:

  • 60 per cent LTV increased to 1.57 per cent with a £995 product fee and £250 cashback or fee assisted legals
  • 60 per cent LTV increased to 2.01 per cent with no fee and £250 cashback or fee assisted legals
  • 75 per cent LTV increased to 1.60 per cent with a £995 fee and £250 cashback or fee assisted legals
  • 75 per cent LTV increased to 2.02 per cent with no fee and £250 cashback or fee assisted legals

Additionally, the 80 per cent LTV at 1.94 per cent product with no fee will be withdrawn

And in the five-year remortgage range:

  • 60 per cent LTV increased to 2.01 per cent with a £995 product fee and £250 cashback or fee assisted legals
  • 60 per cent LTV increased to 2.29 per cent with no fee and £250 cashback or fee assisted legals
  • 75 per cent LTV increased to 2.01 per cent with a £995 fee and £250 cashback or fee assisted legals
  • 75 per cent LTV increased to 2.34 per cent with no fee and £250 cashback or fee assisted legals

The 80 per cent LTV 2.24 per cent product with no fee will be withdrawn

Earlier this week, Nationwide also upped its mortgage rates.

A Sainsbury’s Bank spokesperson comments: “We continually review our mortgage rates to make sure they’re competitive for residential and buy to let. We consider a range of factors when doing this.”

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