Santandar - porting question

Poppy_Kennedy

Morning all

I have been dithering around for a few weeks about whichrate to go for with Santandar (our current lender)

3 years fixed for 2.69% (no fees)
5 years fixed for 3.29% (no fees)

If we can afford to move we would like to in 3-5 years if outfinancial circumstances allow us too.

We were going to go with the 3 years but then i worry thatwe will not get a good rate after 3 years meaning our repayments will go up toa level that we will struggle with.

So then we thought, lets go for the 5 year fixed rate –Santandar said it is a portable product with no ERC unless we downsize which wewill not.

I then did a google and it seems that Santandar are notbrilliant when it comes to porting your mortgage. I am working part-time and my husband is fulltime with a good salary so we are straight-forward customers.

Has anyone had experience porting a mortgage and how easywas this? This will be our deciding factor.

We have are about to come off a 5 year fixed of 5.59% sowant to make the best decision.

Thanks alll

amnblog

You cannot depend on a lender allowing you to port.

Everything is always subject to underwriting.

I would advise clients not to take a 5 years product if they intend to move in three.

Poppy_Kennedy

thanks very much for your advice....

Thrugelmir

Poppy_Kennedy wrote: »

I then did a google and it seems that Santandar are notbrilliant when it comes to porting your mortgage.

Depends on the applicants circumstances. Don't read too much into a few negative tales. People post good stories far less often which is the majority of the time.