View here for Santander’s latest announcements. Please remember that you can access Santander products, including semi-exclusive mortgages, through our direct to lender mortgage club which pays on completion. Contact us for more information. Visit Santander for Intermediaries website
Working with you…offer extension deadline
In the summer we automatically granted a temporary one-month mortgage offer extension to help you manage your remortgage and purchase cases.
As the deadline for this is approaching, we wanted to remind you:
- Your clients must complete by 31 January 2023 subject to a satisfactory valuation. Mortgage Guarantee Scheme products must have completed by 30 November 2022.
- There’s no need to apply for or contact us about this one-month offer extension, which will be based on the offer expiry date.
- Our solicitor panel is aware of this extension on Lender Exchange.
Santander rates update
On Thursday 1 December, we’re further reducing most lower LTV fixed rates for residential new business by up to 0.29%, and all 60% and 75% LTV fixed rates for residential product transfers by up to 0.30%.
The Buy to Let 2 year tracker for product transfers will be removed and replaced with a lifetime tracker for both Buy to Let and Consent to Let product transfers.
New business
Residential – purchase and remortgage
- 60% LTV, 2 year fixed rate at 5.33% with a £999 fee – reduced by 0.24%
- 60% LTV, 5 year fixed rate at 5.14% with no fee – reduced by 0.29%
Residential – purchase
- 60% LTV, 2 year fixed rate at 5.68% with no fee – reduced by 0.19%
- 75% LTV, 2 year fixed rate at 5.39%with a £999 fee – reduced by 0.28%
- 75% LTV, 2 year fixed rate at 5.78% with no fee – reduced by 0.21%
- 60% LTV, 5 year fixed rate at 4.98% with a £999 fee – reduced by 0.25%
- 75% LTV, 5 year fixed rate at 5.08% with a £999 fee – reduced by 0.19%
- 75% LTV, 5 year fixed rate at 5.24% with no fee – reduced by 0.23%
Residential – remortgage
- 60% LTV, 2 year fixed rate at 5.68% with no fee – reduced by 0.26%
- 75% LTV, 2 year fixed rate at 5.38% with a £999 fee – reduced by 0.29%
- 75% LTV, 2 year fixed rate at 5.74% with no fee – reduced by 0.25%
- 60% LTV, 5 year fixed rate at 4.97% with a £999 fee – reduced by 0.26%
- 75% LTV, 5 year fixed rate at 5.02% with a £999 fee – reduced by 0.25%
- 75% LTV, 5 year fixed rate at 5.19% with no fee – reduced by 0.28%
New build
- 60% LTV, 2.5 year fixed rate at 5.33% with a £999 fee – reduced by 0.24%
- 60% LTV, 2.5 year fixed rate at 5.68% with no fee – reduced by 0.19%
- 75% LTV, 2.5 year fixed rate at 5.39% with a £999 fee – reduced by 0.28%
- 75% LTV, 2.5 year fixed rate at 5.78% with no fee – reduced by 0.21%
Product transfers
- All residential fixed rates for LTVs of 60% and 75% reduced by between 0.15% and 0.30%
- Buy to Let 2 year tracker withdrawn
- New Buy to Let and Consent to Let lifetime tracker
Product transfer rates are tailored to each customer; you won’t find them on sourcing systems. Please log on to our online mortgage transfer service in Introducer Internet to view your client’s choice of rates. However, if you’re happy to use an estimated LTV, you can review what rates are available in the product transfer rate bulletin on our latest rates page from 1 December