THE PROPERTY FILTER TAKE
Santander raised fixed rates by up to 0.30% on new business and up to 0.25% on BTL product transfers, effective 22 July 2026.
Higher BTL (buy-to-let) fixed rates tighten ICR calculations at a time when the average five-year fixed sits at 5.50% - the highest point in a mid-month wave of repricing across major lenders.
The numbers are pointing to a sustained market shift; you may wish to stress-test your portfolio against current rates before committing to your next refinance.
Santander has raised fixed mortgage rates across its new business and product transfer range, effective from 22 July 2026. New business rates increased by up to 0.30%, according to Mortgage Solutions, with higher LTV (loan-to-value) deals facing the steepest rises. The lender joined a wave of major repricing that reshaped the market across the same fortnight.
How Far Did the Rates Move?
In the product transfer (PT) range, all 1-, 2-, 5- and 7-year residential fixed rates rose by up to 0.20%, as confirmed by The Intermediary (21 July 2026). Buy-to-let (BTL) fixed rates on 2- and 5-year terms at 60% and 75% LTV increased by up to 0.25%. Tracker rates remain unchanged across both new business and PT ranges.
Santander also used the repricing date to expand its range. New 10-year fixed rates for first-time buyers (FTBs) and home movers launched across multiple LTV bands, including new-build options. New 2- and 5-year fixed rates carrying a £1,499 fee were introduced for new-build clients (The Intermediary, 21 July 2026).
Part of a Wider Repricing Wave
The data shows this is not an isolated move. NatWest, Nationwide, Virgin Money, Barclays, Coventry Building Society, HSBC, Halifax and Skipton Building Society all repriced upward in the same period (Mortgage Solutions, 15 July 2026). Rising swap rates - the wholesale benchmarks that underpin fixed-rate mortgage pricing - are the driver, pushed higher by renewed global market uncertainty.
The average two-year fixed rate now stands at 5.48% and the five-year fixed at 5.50% (Moneyfacts, cited by Heron Financial, 16 July 2026). BTL investors may wish to check their portfolio against current rates using Property Filter's buy-to-let stress test calculator before making any finance decisions. For guidance on lender selection and rate timing, the negotiation and finance section of our blog covers this in detail. All Property Filter calculators are free to use.
Key takeaways
Santander raised new business fixed rates by up to 0.30% from 22 July 2026 (Mortgage Solutions).
Product transfer residential rates rose by up to 0.20%; BTL product transfer rates by up to 0.25% (The Intermediary, 21 July 2026).
At least 8 major lenders repriced fixed rates upward in mid-July 2026, confirming a market-wide shift rather than a single lender decision.
The average 2-year fixed rate hit 5.48% and the 5-year fixed 5.50% as of 16 July 2026 (Moneyfacts via Heron Financial).
Santander launched new 10-year fixed rates for FTBs and home movers across multiple LTV bands as part of the same product update.
Santander has raised fixed mortgage rates across its new business and product transfer range, effective from 22 July 2026. New business rates increased by up to 0.30%, according to Mortgage Solutions, with higher LTV (loan-to-value) deals facing the steepest rises. The lender joined a wave of major repricing that reshaped the market across the same fortnight.
How Far Did the Rates Move?
In the product transfer (PT) range, all 1-, 2-, 5- and 7-year residential fixed rates rose by up to 0.20%, as confirmed by The Intermediary (21 July 2026). Buy-to-let (BTL) fixed rates on 2- and 5-year terms at 60% and 75% LTV increased by up to 0.25%. Tracker rates remain unchanged across both new business and PT ranges.
Santander also used the repricing date to expand its range. New 10-year fixed rates for first-time buyers (FTBs) and home movers launched across multiple LTV bands, including new-build options. New 2- and 5-year fixed rates carrying a £1,499 fee were introduced for new-build clients (The Intermediary, 21 July 2026).
Part of a Wider Repricing Wave
The data shows this is not an isolated move. NatWest, Nationwide, Virgin Money, Barclays, Coventry Building Society, HSBC, Halifax and Skipton Building Society all repriced upward in the same period (Mortgage Solutions, 15 July 2026). Rising swap rates - the wholesale benchmarks that underpin fixed-rate mortgage pricing - are the driver, pushed higher by renewed global market uncertainty.
The average two-year fixed rate now stands at 5.48% and the five-year fixed at 5.50% (Moneyfacts, cited by Heron Financial, 16 July 2026). BTL investors may wish to check their portfolio against current rates using Property Filter's buy-to-let stress test calculator before making any finance decisions. For guidance on lender selection and rate timing, the negotiation and finance section of our blog covers this in detail. All Property Filter calculators are free to use.
Key takeaways
Santander raised new business fixed rates by up to 0.30% from 22 July 2026 (Mortgage Solutions).
Product transfer residential rates rose by up to 0.20%; BTL product transfer rates by up to 0.25% (The Intermediary, 21 July 2026).
At least 8 major lenders repriced fixed rates upward in mid-July 2026, confirming a market-wide shift rather than a single lender decision.
The average 2-year fixed rate hit 5.48% and the 5-year fixed 5.50% as of 16 July 2026 (Moneyfacts via Heron Financial).
Santander launched new 10-year fixed rates for FTBs and home movers across multiple LTV bands as part of the same product update.
Frequently asked questions
Frequently asked questions
Does the rate rise affect existing Santander mortgage customers?
Why are mortgage rates rising again?
What does this mean for BTL investors?
