Set to buy your dream house? Planning for a move? Want to remortgage with another lender? Whatever the case may be, figuring out how to pay for any of these plans could be quite tricky. At best, the most suitable option you can bet on is to apply for a mortgage.
At Santander Bank, you can find competitive rates that might suit your current financial health. Whether you’re eyeing to buy your first house, planning for a move, or wanting to remortgage, expect that the bank comes with a range of favourable mortgages that you can choose from.
Below, we have prepared a brief guide that will let you discover the best Santander mortgages. Read on to know more about their features and how to apply.
Santander Mortgages – Features and Benefits
Similar to most banks, Santander comes with a range of different mortgages, offering a total of six different deals. Among the most popular include the bank’s fixed rate mortgage and its tracker rate mortgage.
As the name implies, the first one lets you borrow money from the bank and repay it in fixed monthly rates. For most, this is the ideal type of mortgage, as it enables customers to know how much they’ll be needing to pay each month.
On the other hand, the tracker rate mortgage lets you choose a mortgage with an initial rate period, where you can track the Bank of England base rate. Under this type of mortgage, your payments will also increase or decrease in line with any changes in the Bank of England base rate.
Most of the Santander mortgages comes with a range of additional benefits, including a free standard valuation on a property valued up to £2.5 million. Those who are set to buy a new home or want to remortgage to the bank from a different lender can also expect cashback, which would only need to be repaid if the borrower repays their mortgage within the first two years.
Santander Mortgages – How to Apply
To be eligible for a Santander mortgage, the bank requires that you must be a UK resident, at least 18 years of age, want the mortgage for a property in the UK (except in the Isle of Man), plan to live in the property, have never had a home repossessed, and have never been declared bankrupt or subject to an individual voluntary arrangement.
If you meet all these criteria, you can start your application by going to Santander’s official site. Click the “Mortgages” option and select “View our mortgages.” Take note that you'll need to have an online decision in principle before you can apply. Scroll down to see the option “Want a decision in principle?” and click on it. Complete the form to see if the bank could lend you the amount you need.
As part of your application, you’ll be required to provide your last 3 years’ address history with no gaps, along with other documents, such as your proof of income and proof of address. To know more, you can click on this link for guide: Documents You Might Need.
Fees and Charges
All applications are subject to status and the bank’s lending criteria. This means that the amount you can borrow will depend on your individual circumstances. Moreover, the amount you’ll pay will depend on either the purchase price or the estimated value of the property.
Santander Contact Info and Address
To know more, contact Santander Bank at 0800 389 7000. You can also visit them at their registered office located at 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom.
The Bottom Line
Impressed about Santander’s mortgages? If any of the bank’s offer appealed to you, feel free to reach out to them and inquire about your preferred deal as early as today.
Note: There are risks involved when applying for a mortgage. Please see the bank’s Terms and Conditions page for more information.
