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. 

Santander is supporting applications from mortgage prisoners

From Monday 2 November, Santander is supporting applications from mortgage prisoners following the guidance published by the FCA. This is open to all registered intermediaries where your client has received a letter from a third party administrator on behalf of the FCA identifying them as a mortgage prisoner. Please note that applications from mortgage prisoners will be subject to an affordability assessment.

For more information on the types of cases we can consider and how to submit a mortgage prisoner application, visit our FCA mortgage prisoners page.

Mortgage payment holidays are available for longer

Further to the announcement by the UK government on Saturday 31 October in relation to Covid-19 measures, the FCA has announced it’s reviewing the mortgage payment holiday scheme, with a view to making it available for longer, to further support customers financially impacted by coronavirus.

Therefore, in the short term, we’re extending the availability of mortgage payment holidays. The terms of the scheme remain the same – customers can apply for a new payment holiday for three months or extend an existing payment holiday up to a maximum of six months in total.

View our FAQs for more information.  

New self-employed evidence requirements

From Sunday 8 November, we’ll now be asking for additional evidence requirements for self-employed applications.

Self-employed applications over 75% LTV

In addition to our existing evidence requirements, we’ll now be asking for three months’ business bank statements for all self-employed applications over 75% LTV. The most recent bank statement must not be more than 30 days before the date of the application and should evidence that the business is healthy, trading at the expected level, and showing no signs of financial pressure.

Limited company directors

We’ll now ask for an accountant’s certificate to assess the performance of the business and income for all limited company director applications below 90% LTV. Please use the most recent accountant’s certificate available on our website.

Further information

All full mortgage applications submitted on Introducer Internet from 6am on Sunday 8 November, will be assessed on our updated self-employed income policy.

Valuations – physical property inspections

Further to the announcements by the UK government on Saturday 31 October in relation to Covid-19 measures, our valuation partners have confirmed that they will be able to continue to provide physical property inspections at this time in England, Northern Ireland, Scotland and Wales.

Thank you once again for your continued support and patience during this time.

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