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

Update to our affordability rates and other important changes

On Wednesday 27 July we’re updating our residential and Buy to Let affordability rates following June’s Bank of England base rate increase.

At the same time, for residential applications only, we’re:

  • increasing the minimum National Insurance threshold to £12,570 in line with government changes; and
  • updating the household expenditure figures to reflect the most recent Office of National Statistics (ONS) data

Our affordability and Buy to Let calculators will be updated to reflect these changes. So please use these calculators on our website to make sure you get an accurate reflection of what we can lend your clients.

Pipeline rules

Our usual pipeline rules will apply. All full mortgage applications (FMAs) already submitted on Introducer Internet by close of business on Tuesday 26 July won’t be affected by these changes. Any FMAs submitted from 6am on Wednesday 27 July, or where a material change is made to an FMA that was originally submitted before close of business on Tuesday 26 July, will be assessed using our updated lending policy.

How are we supporting the change?

This change will be reflected in our residential affordability and Buy to Let calculators, our website, lending criteria and sales aids.

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