Brilliant Solutions

Santander Update

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

Response to the Bank of England base rate change

On Thursday 4 August, the Bank of England base rate increased by 0.50% from 1.25% to 1.75%.

Following this decision, we can confirm the following changes for existing mortgage customers from the beginning of September:

All Santander and Alliance & Leicester tracker mortgage products will increase by 0.50%. This includes Santander’s Follow-on Rate (FoR) which will increase from 4.50% to 5.00%

The Standard Variable Rate (SVR) for both Santander and Alliance & Leicester will increase by 0.50% to 5.99%

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.

All tracker rates and reversion rates on our new business and internal transfer products will increase in line with the base rate on Tuesday 9 August.

Further information

Any pipeline applications already submitted and/or offered are not affected so you don’t need to do anything.

Take a look at our base rate FAQs for more information

Share this:
Scroll to Top