Santander temporarily pulls some UK mortgage products – email to brokers

LONDON (Reuters) – Santander became the latest high street bank in Britain to temporarily pull some of its mortgage products for new customers, as lenders struggle to price loans in response to wild swings in sterling funding markets.

“On Wednesday 28 September, we’re temporarily removing all 60% and 85% LTV products from the new business range,” Santander said in an email sent to brokers on Tuesday, seen by Reuters.

“The majority of our new business residential and Buy to Let fixed rates also will increase by up to 0.40% and product transfer fixed rates will increase by up to 0.30%.”

(Reporting by Andy Bruce; editing by William James)