Sainsbury’s increases fixed rates

Mortgage Introducer

August 8, 2018

Sainsbury’s Bank has increased a number of fixed rate mortgages after last week’s Bank of England base rate rise of 0.25%.

The lender’s 5-year fixed rates for purchase now stand at 2.05% to 60% loan-to-value and 2.07% to 75% LTV, both with a £995 product fee. There is also a fee-free option at 2.20% to 60% LTV and 2.22% to 75% LTV.

Sainsbury’s 2-year fixes now start from 1.57% to 60% LTV with a £995 product fee, while to 75% LTV with a £995 fee it stands at 1.61%.

The lender also increased remortgage rates and has withdrawn its 80% LTV 5-year fix remortgage at 2.24% with no fee.

A spokeswoman for Sainsbury’s Bank, said: “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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