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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

UK mortgage turmoil: Santander pulls new borrower deals as NatWest hikes rates

Santander HSBC TSB
Santander logo on a mobile phone
Santander’s move and NatWest hiking of its interest rates follows decision of HSBC to halt new mortgage business last week. Photograph: Dado Ruvić/Reuters

Santander has become the latest major bank to temporarily pull its mortgage deals for new borrowers from sale, amid a fresh warning that further interest rate hikes may be needed to tackle inflation.

Days after HSBC temporarily pulled down the shutters, Santander said it would stop accepting new applications for its “new business” residential and buy-to-let fixed and tracker rates at 7.30pm on Monday, with deals not becoming available again until Wednesday 14 June.

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