Santander Mortgage Existing Customer Deals

sxcizme3010

Hi, Im currently with santander for my mortgage however my fixed rate is coming to an end in Dec and I am wondering what sort of deals they do for existing customers. Read some awful things online about people being trapped on SVR. We currently have quite a cheap mortgage of only £343 pm however looking online we could get that down to £226 pm! I know you can transfer your mortgage deal to any deal online with santander but has anybody done this? are the deals good? Im worrying we may not get a mortgage with another lender :-(

MoneyMission2015

I did it 2 years ago. Our fixed came to an end but as the variable rate was so low we didn't bother for about a year or 2, but then 2 years ago when there was talk of rates starting to rise etc I thought I should have a look. So I went online, saw the transfer deals & applied online. It was very quick to apply, received a letter from Santander confirming the transfer and then probably about 2 weeks later we had another letter just confirming the new monthly amount, when the new payments would start etc.


It reduced our monthly payment by over £100 and we are on the lowest rate we've ever been on and actually I haven't seen a lower rate advertised anywhere either. I'm hoping that when our deal ends again in a years time I can secure another good deal with them.


I know some people don't rate Santander, but I honestly can't fault them. We've had mortgages with them for over 10 years (first house & our current home) and they were always very helpful, no issues at all. We now have a 123 account with them too & whenever I've had a query they've always been able to help me straight away if I call them, or if I've sent them a message through internet banking I've always received a quick response.

sxcizme3010

Thats great! As I said we already have a decent mortgage rate however just dont want our payments sky rocketting! I have had no problems with santander and always seem very good on the phone etc. I have to wait until 4 months before so August to apply however thought I better start looking into it ASAP as I dont want us to be locked on the higher rate due to the new EU rules coming into force as of March next year.

Thrugelmir

sxcizme3010 wrote: »

As I said we already have a decent mortgage rate however just dont want our payments sky rocketting!

The only way to avoid that happening is to pay down your mortgage quicker. As Santander don't set interest rates they follow them.

kev.s

santander don't offer existing customers much, i got best deal with natwest this time. can't fault Santander in anything other than their existing customers deals on mortgages, other than that i've always had good service on other accounts.

sxcizme3010

No however they do set the SVR

Jhoney_2

I did mine last month online. You put in your mortgage account number and dob and they show you the rates and terms available to you - and then you pick. They also keep you updated on the progress of the application to completion by email with a link to track what stage it is at and text.

It took about 2 weeks from application to completion at their end and then the new deal starts as soon as you current one expires.

Hassle free.