Moving house with Santander 1.49% mortgage - will they try to change it?

soupytwister

I have a full term tracker (BBR + 0.99% = 1.49%) mortgage with A&L/Santander, and am thinking of moving house.

The mortgage is not an insignificant amount (6 figures), and the terms and conditions state that it is portable.

I'm sure Santander will try to persuade me onto another rate, but as I will choose to remain on the above rate, has anyone ever experienced them declining to port it at that rate, and thereby neglecting to honour the contract?

opinions4u

They are not obliged to offer you a new mortgage at all. If you don't meet their underwriting criteria you don't get a mortgage on the new place.

If they turned round and said you could have a new mortgage but not port the product, then you have a complaint to pursue.

Dave_Ham

Do be mindful Santader have changed their lending criteria dramatically.

Previously they were one of the softer lenders, however now they are very stringent.

So long as you meet their criteria, they will allow you to prt product (subject to new property also meeting criteria)

Good luck