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Santander launches new green products on 24 September
On Tuesday 24 September, we’re launching a new range of green remortgage fixed rate products for residential and Buy to Let clients who have a valid A or B rated Energy Performance Certificate (EPC) on their property. The rates are 0.10% lower than the equivalent standard remortgage rates.
Before submitting the application, you must check your client has a valid A or B rated EPC for the property being mortgaged on the government register. We don’t need a copy of this. To check your client’s EPC rating, go to the government website for England, Wales and Northern Ireland or Scotland. We’ll carry out checks on applications submitted to confirm your client is eligible.
We’re withdrawing our Buy to Let 2 year tracker rates in the new business and product transfer ranges.
There’ll be no other changes to our product ranges.
New business
- New residential green 2 and 5 year fixed rates for remortgages from 60% LTV to 85% LTV.
- New Buy to Let green 2 and 5 year fixed rates for remortgages from 60% LTV to 75% LTV.
- Withdrawal of 75% LTV Buy to Let 2 year tracker rates.
Product transfers
- Withdrawal of 75% LTV Buy to Let 2 year tracker rate.
- For clients who want to change or cancel their new deal.
- If they haven’t accepted their product transfer offer yet, you can select a new product in the online mortgage transfer service for them and a new offer will be issued. Please make sure your client accepts the correct offer for the deal they wish to book.
- If they’ve already accepted their new deal, you can change to a different deal or cancel the one that’s already booked for them. You must do this at least 14 days before their new deal starts. Please see the ‘Product transfer cancellation process’ section on the Product transfers page.
- Whilst a product transfer is pending, your client cannot make any other changes to their mortgage until that new deal has started. This includes a switch to interest only for 6 months or a term increase under the Mortgage Charter, and other changes such as overpayments.
Further information
- Full details of our new business range can be found in Rate Bulletin (Issue 24). Our latest mortgage rates page will be updated on Tuesday 24 September.
- From Tuesday 24 September you can log on to our online mortgage transfer service in Introducer Internet to view your client’s choice of rates. You won’t find these on sourcing systems.
- You must submit your new business and product transfer applications on our current ranges by 10pm on Monday 23 September.