Santander Mortgage Rates

adamcarvell

cbrpaul wrote: »

At first she told me I had to pay a £125 transfer fee , then halfway through the call she said " oh no you don't need to pay the transfer actually as you have a Santander account already "


So that fee was waived for me.




Conclusion:
Combined with the Santander booking fees, the lack of interest calculated on a daily basis , a max of 10% per year over payments only ( I want the option of paying more , you never know !!) , and a ERC of 5% , one of the highest I have seen, I will be going elsewhere.
I will also close my Santander bank account and move all DD debits over to the new provider , I will also get £100 for doing this


Took me 45 mins to move to another provider , over the phone , docs in post , signed ,returned, deal all booked for free , valuation free , solicitor free, very easy , never left my house.

did you have to pay the Santander exit fee off £295 I was quoted should I change lender at the end of my term ?.

adamcarvell

what happens if I don't sign the paperwork ? I go onto svr in april.

gjchester

FWIW We were due to revert to SVR in April, took the 1.99 +BOE offer expecting 3 months of 4.89% then going to 4.99% SVR. To my surprise Santander have already moved us to the new rate, so we're saving 2.3% interest on 3 or 4 months. Not a lot but a bit of a surprise, especially as I only called to query if the DD has been moved to the 123 account and found they'd already done it all with the mortgage, and the woman said the letter was probably in the post already.


Overall its been pretty smooth as it goes.

adamcarvell

you opened the 123 account then?.

cbrpaul

gjchester wrote: »

To my surprise Santander have already moved us to the new rate, so we're saving 2.3% interest on 3 or 4 months. Not a lot but a bit of a surprise, especially as I only called to query if the DD has been moved to the 123 account and found they'd already done it all with the mortgage, and the woman said the letter was probably in the post already.


Overall its been pretty smooth as it goes.

yes they offered me to move over now also, saving me 0.41% , and when I asked how come she said , we can move you 3 to 4 months only before the end of current deal.

gjchester

adamcarvell wrote: »

you opened the 123 account then?.

Yep. My wife and I retain our current account just move enough money in to cover the mortgage and household bills each month, mainly to get the cashback on the mortgage.


Once the mortgage goes so will the account most likely.. Account was opened on line very easy, Applied Thursday, approved the next day, cards arrived Tuesday. Tried in branch but they said I needed to see an advisor and there was a 2 week wait...

adamcarvell

i got to sign my paperwork today might give them a ring to see if the rates have changed first . the 123 a/c is the way for me as we have a nationwide a/c set up for bills that pays nothing so 123 makes sense.

cbrpaul

adamcarvell wrote: »

did you have to pay the Santander exit fee off £295 I was quoted should I change lender at the end of my term ?.

Yes its written in my KFI,s ,