About Santander Mortgages for Intermediaries

Santander’s extensive range of mortgages and mortgaging service has earned the bank a range of awards, including the 2013-2014 Your Mortgage award for “Best remortgage lender”, the 2013-2013 award for ‘Best direct mortgage lender’ and the Direct Awards 2013 ‘Best direct mortgage provider.’ Santander offers its customers a variety of fixed rate mortgages, most of which cover a two, three or five-year time period. During the set period, customers receive a set monthly repayment rate, which moves over to the Standard Variable Rate after the timeframe ends. Santander customers can overpay up to 10% of their balance without receiving early repayment charges, but repaying the mortgage in full or moving the mortgage over during the fixed rate period will incur charges.

Santander also has tracker mortgages available, which follow the Bank of England base rate. These mortgages cover a two or three-year period before moving over to the Standard Variable Rate. Customers seeking a longer-term tracker mortgage can also apply for the Lifetime Tracker mortgage from Santander, which keeps to the Bank of England base rate for the entirety of the mortgage term. These Santander tracker mortgages require the customer to have enough room in their monthly budget to accommodate rising interest rates during certain months when the Bank of England base rate increases.

Santander offers a range of Flexible Offset mortgages, which is linked to the customer’s savings to lower the interest rate, potentially leading to an earlier repayment of the mortgage. Santander’s Offset mortgages allow customers to access their savings at any time free of charge, and make overpayments at any stage.

Fixed Rate Mortgage

• Traditional 15-year fixed rate mortgages and 30-year fixed rate mortgages
• Monthly payments remain unchanged for the life of your loan

Buy to Let

• Maximum loan size £750,000.
• Minimum property value £75,000.
• Maximum LTV 75%; new build flats 70% LTV.
• Remortgage with capital raising (including debt consolidation) for personal use up to 75% LTV

95% LTV mortgages

• Maximum loan size £570,000 for non-new build houses
• Maximum loan size £380,000 for non-new build flats

Large Loans

• You can get loans over £1 million.
• The products are available up to 70% LTV, with a maximum loan size of £3 million.

Shared Ownership

• The maximum LTV for standard shared ownership applications is 90%. This may be subject to property-related LTV restrictions

Additional borrowing

The Core Features of Santander Mortgages for Intermediaries

• Its deals allow you to make overpayments
• Competitive for fixed and tracker deals
• Some competitive deals for borrowers with small deposits

How does it work?

If your client isn’t eligible for our online mortgage transfer service then your dedicated contact can provide you with details of indicative mortgage rates available on that day, if you have their authority to discuss this. Santander always provide details of all the products available to your client when you call.

The Final Advice

Though the bank’s offers comparatively high interest rates , yet its diversity of mortgage solutions seems fitting to most of the customers.