Santander Mortgages

Santander UK is a retail and commercial bank based in the UK. It is a part of Banco Santander, a Spain-based banking group that operates internationally. Santander offers a range of banking products, including mortgages to suit a range of consumers. Read on to find out more about Standander’s mortgage products, how they work, and whether they might be a good choice for you.

Santander Mortgage Rates

Santander mortgage rates can vary depending on a range of factors, including the type of product you apply for and your personal circumstances.

There are two main options for Santander mortgage rates:

• fixed-rate mortgages
• tracker rate mortgages

With a fixed-rate mortgage from Santander, your interest rate will be set during your application and will stay the same until the end of the mortgage term. With a tracker rate mortgage, the level of interest you pay will be based on the Bank of England’s base rate. This means that your payments may change from month to month, either dropping or rising, based on the base rate itself.

The third option for Santander mortgage rates is the standard variable rate (SVR), which customers will be moved on to at the end of their fixed-rate or tracker term, unless they remortgage on to a new deal.

Other factors can affect the mortgage rate Santander may offer you too. For example, having a low credit score or smaller deposit may mean a higher rate is applied to your loan.

Always check your mortgage offer to make sure you are in a position to comfortably meet your mortgage payments each month.

Santander Mortgage Products

Santander offers a range of mortgage products to suit the various needs of consumers, whether they are trying to get on the housing ladder, move home or buy a home to rent out.

Here are just a few of the mortgage types that Santander provides:

• first-time-buyer
• home mover
• remortgages
• buy to let

Your eligibility for these products may vary depending on your circumstances.

Santander Mortgage Application Process

The mortgage application process with Santander is similar to those with other lenders, and typically occurs in the following way:

• Get a Decision in Principle – by providing some of your financial information, including income and outgoing expenses, Santander can estimate how much it may lend you.
• Finding the property and making an offer – once you know how much you may be able to borrow, you can find a property to suit your likely budget and make an offer.
• Apply for your mortgage with Santander. Once you have made an offer, you can apply officially with Santander.
• Your solicitor or licensed conveyancer will then see the process through until your property sale is completed.

With NerdWallet, you can compare mortgage products from Santander and other lenders to find the deal most suitable to you.

Santander Mortgage Customer Service

In the event that you need to contact customer services at Santander about your mortgage, its phone line is available on 0800 077 8592.

Alternatively, you can get in touch with a digital assistant from Santander by clicking on the Chat with Us button on any page, to discuss any mortgage-related enquiries further.

Santander also has a number of articles written to cover specific FAQs that may be a good first port of call if you have questions.

Santander Mortgage FAQs