Santander Mortgage Rates

adamcarvell

im an existing customer I wasn't offered rates as good as a new customer.

drdpj

The rates are customised, so publishing them would be pointless. See this article:

http://www.theguardian.com/money/2013/nov/19/secret-remortgage-rates-special-customers

However, if you don't like what you are offered there is no point trying to haggle with a Santander adviser over the phone. They have "no power to negotiate", according to Cliff. Instead, a computer gives out the rates you'll be offered, which are automatically created ready to be presented to you up to four months before your current deal ends.

They're clearly in a position where they can pick and choose their business. If they want you to stay you'll get offered a good rate, if they're ambivalent or want to put you off then you'll get offered nothing. It'll all be decided by computer models of the sort of customer they want to fit their business plan at the moment. I don't think it can be taken personally.

adamcarvell

I was offered 3.29% 5 year fixed on thurs then 3.39% yesterday.

gunge

adamcarvell wrote: »

im an existing customer I wasn't offered rates as good as a new customer.

I remortgaged with Santander in Nov.

I found them very helpful and the advertised deals for new customers was my starting point for negotiation. I pointed out better deals elsewhere and they were quite flexible over fees and penalty for exiting the fixed mortgage I was already in - the overall package to keep me was better than moving lender and avoided the additional paperwork, survey etc.

I know there are plenty of complaints out there about Santander, but I have never had any difficulty with them and the 123 account current means I am saving a further £120 a year.

loulala1

Mokka wrote: »

Interesting. When I inquired about a mortgage there was a hint that I would have got a better rate if I were their existing customer.

That is interesting.

loulala1

adamcarvell wrote: »

im an existing customer I wasn't offered rates as good as a new customer.

It seems they are telling people different things.

cattermole

In our case they don't want to port our existing mortgage because it is on such a low rate and an old A&L mortgage.

I don't trust them that's for sure and am worried about going through the formal application with them in case they turn it down. Which then means they have marked our card so to speak.

adamcarvell

was my rate 3.29% fixed for 5 years a good one or should i keep phoning for a better one?.

gjchester

cattermole wrote: »

After an hour on the phone to a child yesterday and getting little help or advice. It was clearly all scripted any response given and no real understanding of what was actually being talked about.

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We had the entirely opposite experience, While I knew what roughly what I was after the bloke ran through the options, offered me all the details I wanted but as you'd expect didn't recommend anything as they are not permitted to.


That was the initial call, too 10-15 mins.


Called back a few days later 40 minutes or so later it was all done apart from us signing the paperwork and returning it.,


We had a 1.99% above BOE tracker for the lifetime let (20 years), a little risky but we plan to pay it all off in the next 5 years or so and anything with a fee over £600 wasn't going to save enough to justify changing from the SVR we will revert to in April.

cattermole

gjchester wrote: »

We had the entirely opposite experience, While I knew what roughly what I was after the bloke ran through the options, offered me all the details I wanted but as you'd expect didn't recommend anything as they are not permitted to.


That was the initial call, too 10-15 mins.


Called back a few days later 40 minutes or so later it was all done apart from us signing the paperwork and returning it.,


We had a 1.99% above BOE tracker for the lifetime let (20 years), a little risky but we plan to pay it all off in the next 5 years or so and anything with a fee over £600 wasn't going to save enough to justify changing from the SVR we will revert to in April.

Glad you got yours sorted, our situation is not straight forward because of age, length of term, income etc. We track currently at .95% and it's an old A&L mortgage they want rid of and we want to keep on it's current terms when we move.