Santander announces another rule change and 'all customers can do is pray'

Dariusz Karpowicz, Director at Albion Financial Advice, said: "Santander's second rate hike in a week reflects the broader market's reaction to rising Swap rates.

"As we approach summer, this trend hints at a looming tightening of lending, presenting hurdles for borrowers. Urgent government intervention is warranted to aid current mortgage holders and first-time buyers, especially concerning affordability. Without decisive action, we face potential repercussions for the UK economy and property market. Implementing measures now can alleviate financial strain on households and foster a more robust market environment."