Santander's Rates have gone down again today for the higher LTV mortgages.

bigmondy

Santander's Rates have gone down again today for the higher LTV mortgages.

They also go as low as 60% LTV with some great rates - the one I'm opting for is a 5 year fix for 2.29%.

Anyone noticing that some lenders will lend slightly beyond retirement where some wont? Surely that flexibility should be law now?

Anyway - just giving the heads up about today's rate reductions.

All the best!:beer:

Thrugelmir

bigmondy wrote: »

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Anyone noticing that some lenders will lend slightly beyond retirement where some wont? Surely that flexibility should be law now?

Why is a law required? Borrowers have to pass affordability criteria. This is the factor that excludes many, i.e. their ability to repay.

bigmondy

I suppose so - it was a brain fart sorry.

Jhoney_2

Thanks for letting us know BM! Don't mind Thrugelmir, that's his posting style, lol.

SpeedSouth

Thanks I was tempted to ditch my 1.99 tracker for the 2.39% over 5 years so even more so now.

amnblog

Lets not confuse commercial decisions with Law.

audigex

Note that some people can actually be better off immediately after retirement than immediately before. They may have the state pension, plus a private pension which is larger than the difference between the state pension and their previous income.

And this pension income is actually guaranteed for life, whereas they could have lost their job at any time.

airyfairy76

Thanks for the update - I had a H2B EL mortgage offer a couple of weeks ago (though paperwork has not been sent out yet due to a mix up with the developer - managed to get the address of the site wrong THREE TIMES!) which was 2.99% - this has now dropped to 2.49%.

What happens in cases like this? Can my broker request a move to that product? Would it be a whole new application? Completion won't be till August / September. I have dropped him an email on seeing this thread and checking the rates, but any info would be great

Valuation was included, and no arrangement fee, so I haven't paid any fees to Santander...

airyfairy76

In case anyone interested, I heard back from my broker. Santander charge a £199 admin fee for dropping to a lower rate before completion.

kingstreet

It sounds like you'll have at least one product change before completion, so paying £200 to change now would not be a good idea, as another will be required later.

airyfairy76

kingstreet wrote: »

It sounds like you'll have at least one product change before completion, so paying £200 to change now would not be a good idea, as another will be required later.

Thanks for the input - could you elaborate please? Because rates will drop again before September?