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. 

Updated product transfer range

On Tuesday 24 November, we’re introducing four new residential products with £1,499 fees. These are 2 and 5 year fixed rates available up to 75% LTV for balances of £150k and above. All other existing residential fixed and tracker rates are unchanged.

We’re also amending some fees on Buy to Let and consent to let products, but product rates remain unchanged.

All charge end dates will roll on by one month to 2 March and the completion deadline will be rolled on by one month to 5 April 2021.

Santander product transfer rates are personalised to each customer, so you won’t find them on sourcing systems. Please log on to our Online Mortgage Transfer Service in Introducer Internet on behalf of your client to view the rates available to them.

New self-employed evidence requirements

From Thursday 26 November, in addition to our existing evidence requirements, we’ll now be asking for three months’ business bank statements on all residential applications where your client’s income or business has been affected by COVID-19.

This new request will be displayed once you’ve submitted the full mortgage application alongside any other income evidence requirements. The most recent bank statement must not be more than 30 days before the date of the application and should be supported by the following information:

Where your client’s income or business has been unaffected by COVID-19, please upload a Mortgage Application Tracking System (MATS) message confirming:

– Why they haven’t been affected or how they’ve changed the way they operate.

– Confirmation the business can continue to trade under any current or future lockdown restrictions in a way that allows the income declared on the application form to be sustainable.

Where your client’s income or business has been affected by COVID 19, please provide:  

– Three months’ business bank statements (dated within 30 days of application); and

– A MATS message confirming:

  • Was the business unable to trade during Covid restrictions and if so for how long?
  • What impact the previous Covid restrictions have had on the business turnover and customer income?
  • Was any government assistance applied for? If so, please give details.
  • What impact any current or future lockdown restrictions will have on the business and how this will affect the turnover and income.
  • Please explain how the business bank statements support the income declared for affordability on the application form.
Applications submitted, but not yet agreed

If we need further information from you to assess your client’s existing application, we’ll be in touch via MATS messaging.

Further information

Please note our evidence requirements for PAYE and Buy to Let applications remain unchanged. Please continue to provide full details of Covid impacts on your client’s income and personal circumstances.

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