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
Great news! View your client’s valuation report in the Mortgage Application Tracking System
From Monday 30 January, you’ll be able to view your client’s valuation or transcript report in the Mortgage Application Tracking System (MATS).
Once you’ve received your MATS message confirming the valuation or transcript has been received, log on to Introducer Internet > Case tracking > Valuation received, and you’ll be able to see a copy of the report.
Please note, where a valuation or transcript includes a retention, the report will be available on MATS when the mortgage offer has been issued.
Response to the Bank of England base rate change
On Thursday 2 February, the Bank of England (BoE) base rate increased by 0.50% from 3.50% to 4.00%.
Following this decision, we can confirm the following for existing mortgage customers;
- Santander tracker products will increase by 0.50% from the beginning of March, but customers’ payments won’t increase until April. This includes the Follow-on Rate, which will increase by 0.50% to 7.25%
- Alliance & Leicester tracker products will increase by 0.50% from the beginning of March and customers’ payments will also change from March
- Santander’s Standard Variable Rate (SVR) will increase by 0.50% to 7.25% from the beginning of March, but customers’ payments won’t increase until April
- Alliance & Leicester’s SVR will increase by 0.50% to 7.25% from the beginning of March and customers’ payments will also change from March
If a customer’s existing mortgage is affected, they’ll receive a letter notifying them of their new interest rate and new monthly payment a minimum of 5 days before their monthly payment changes.
If they’re worried about how interest rate increases will affect their mortgage, they can find useful tools and tips in the ‘Bank of England base rate and your mortgage’ section of the Manage your mortgage page.
All tracker rates and reversion rates on our new business and internal transfer products will increase in line with the base rate on Friday 10 February.
Further information
Any pipeline applications already submitted and/or offered are not affected so you do not need to do anything.