Everything you need to know as Santander confirms extra cost for UK customersSantander followed Halifax earlier this week09:40, 30 Jul 2026Santander confirmed changes this week(Image: John Longley via Getty Images)Need to know: Santander joins Halifax in mortgage rate hike, signalling market trendSantander has announced mortgage rate increases just 24 hours after Halifax made similar moves, signalling a clear upward trend in the housing market.The bank is hiking most fixed rates and selected tracker rates by 0.15%, with some products seeing increases of 0.19%. The changes affect new business and some residential fixed rates in its product transfer range.Anthony McQuilliam, director of Essex-based Bolt Mortgages, warned: "When Santander follows Halifax within 24 hours, that's not a coincidence, that's a signal."Experts say the timing of rate announcements is putting enormous pressure on both borrowers and brokers. Many lenders are issuing notices at 3pm, forcing brokers to work until midnight to secure deals.The increases are being blamed on rising oil prices amid Middle East tensions, which threaten to fuel inflation. Emma Jones from Whenthebanksaysno.co.uk said markets are "increasingly nervous about inflation".Brokers are urging anyone considering a mortgage or renewal in the next six months to act immediately. Stephen Perkins from Yellow Brick Mortgages warned of the "waiting penalty" for those hoping rates might fall.READ THE FULL STORY: UK Santander customers told of new extra cost after Monday Halifax announcement