Santander looking after their customers again

Conrad

Poeple wakey wakey - you are no longer with Abbey, you are with a Spannish Bank and you will realise property in Spain has fallen through the floor meaning Santander have billions in exposure not covered by property equity. You are thier new cash cow.

You really have to get over this quaint notion that you are a valued customer.

I hate using them now as they are inept in the extreme. Personaly I'm aghast when I see people on here applying to this Spaniish crock of poo.

sitesafe

mikey_D wrote: »

I have been with Abbey/Santander for 8 years, I am currently on my third mortgage with them and have never had a problem, all applications were processed qucikly and efficiently with them, I have most of my insurances with them and my main accounts, have a perfect credit score and have never missed a payment or used my overdraft with them in 8 years. Anyway my 5 year fixed deal is about to end, so I phoned to discuss a new option with them, having seen some of the good deals they have on there website I was offered a 2 year fix at 5.99% or a discounted tracker @ 3.99%(I have over a 25% deposit on a House valued at £375k) and these were the only two options available.

I am not asking for help, I just wanted to vent my frustration. It will be bye, bye santander in a few months.

hi ... i'm with santander too. i think the nearer you get to the end of your deal the more options they offer you. i think it's up to 5 months ahead before they will offer you tracker options and up to 4 months ahead before they offer you fixed options. my deal ends in sept and i'm having to wait until later this month before they offer me more fixed. be careful though because i was going to accept one of their early offers and when they sent the docs to me to sign and return within 2 weeks, i checked the small print and they had put on it to start in april, not september, so i would have been paying more before my current mortgage deal ended and also would have had to pay early repayment charges!! i contacted them and they said it was an error but that there were some deals they could offer me and i was offered a reasonable one which i accepted but then after going through all the stuff on the phone the woman realised she had offered me that deal too early and had made a mistake herself! i think it's best to wait until the 4 and 5 month timescales and hope that we get better offers.

lightspeed

sitesafe wrote: »

hi ... i'm with santander too. i think the nearer you get to the end of your deal the more options they offer you. i think it's up to 5 months ahead before they will offer you tracker options and up to 4 months ahead before they offer you fixed options. my deal ends in sept and i'm having to wait until later this month before they offer me more fixed. be careful though because i was going to accept one of their early offers and when they sent the docs to me to sign and return within 2 weeks, i checked the small print and they had put on it to start in april, not september, so i would have been paying more before my current mortgage deal ended and also would have had to pay early repayment charges!! i contacted them and they said it was an error but that there were some deals they could offer me and i was offered a reasonable one which i accepted but then after going through all the stuff on the phone the woman realised she had offered me that deal too early and had made a mistake herself! i think it's best to wait until the 4 and 5 month timescales and hope that we get better offers.

Just for info. I phoned Santandar for a 2nd time last night to check what rate i am now moving onto and enquired about any new deals.

I have approx 75%-85% LTV according to them, looking locally at prices i would expect that to be between 75% - 80% minimum. The best tracker deal i was offered was approx +3.5% over BoE and the best fix was 4.99% over 2 years, both deals had modest fees too.

by doing quick searches i have found deals at around 4.39% fixed (75% LTV) over 5 years and trackers @ +2.49% over BoE (80% LTV).

Simply put, Santandar will not offer existing customers competitive deals. As previously said, they are not obliged to do so but as a santandar customer i would start to look elsewhere unless you are dropping onto a rewarding SVR.

issy0503

Try phoning again and asking for a better deal, I have never had problems with them, I have used them for everything since they were Nat Prov.Although when Abbey took over they got better.

Thrugelmir

lightspeed wrote: »

and trackers @ +2.49% over BoE (80% LTV).

Its an advertised rate by the probably the toughest underwriting criteria lender in the mortgage market. Known for being selective towards those they make mortgage offers to.

rsspence

I am in a similar situation with regard to Santander, however I was pleasently suprised with the quote I was given. 2 Year fix at 3.79%. I am sure I have 30% equity in the property so I am sure that has helped. My current 5.99% ends in September, so I was after a quote early in case deals start to go and rates go up.

The only problem I have is, do I accept the offer or wait for some new deals. It has been said over the past few days that better offers may come along due to the slower than predicted economic recovery.

It is all a bit of a gamble really, a crystal ball would be nice. I will be asking for a better offer before signing though, particularly as I am sure that my offer above no longer exists on there site and has been replaced by a 3.59%.