Any Santander Offers?

worriednoob

Hello everyone,

My brother is a FTB and has been banking with Santander for over a decade. He's got an appointment with a mortgage advisor in 2 weeks time.

He was wondering if anyone knew what offers if any, santander are giving to FTB? i.e. such as free legals, no mortgage fees or free valuation/survey?

Thanks

betmunch

Santander have free valuations as standard.


You shouldn't be picking a lender by what they will give you for free, I base it on the total cost over the product period unless the client has given me reason to do it a different way.


Whats the point of having a free valuation if the total cost over the next 2 years is going to be £2000 higher than another lender.


Also, 2 week wait? That's just ridiculous!!! Your implying he is seeing the bank, is that true? Or just the way I am reading the OP?

worriednoob

Thanks for helping betmunch. He is going directly to the bank and the 2 week wait is due to his work commitments as he currently can't get time off.

I know what your saying regarding picking the lender, but he's happy with them and their service, hence he wants to stick with them. He just wasn't sure what offers they have for FTB.

By the way, you said free valuation, but what sort of checks does that usually involve?

betmunch

Fair enough, if he's happy with that.

Usually it's a visit by a surveyor to check the house is acceptable to the lender. However, they are doing some by computer now.

Either way there's no protection for the buyer other than confirmation of the purchase price

ACG

I realise there is brand loyalty but the mortgage department is very different to the branch and so on. There is also a lot at stake just to go to a bank because you bank with them...each to their own I suppose.

You can see their products here - https://www.santanderforintermediaries.co.uk/products-and-criteria/latest-mortgage-rates/

csgohan4

worriednoob wrote: »

Hello everyone,

My brother is a FTB and has been banking with Santander for over a decade. He's got an appointment with a mortgage advisor in 2 weeks time.

He was wondering if anyone knew what offers if any, santander are giving to FTB? i.e. such as free legals, no mortgage fees or free valuation/survey?

Thanks

What did Santander give your brother for his loyalty?? It's corporate and all is fair in love and war

worriednoob

Thanks for your replies and advice. Unfortunately he is adamant that he wants to stick with them, so all I can do is give him the best advice and hope that he will do the right thing.

Could you please tell me what if the asking price is for example a £100k and the valuation is also a £100k, but the surveyor says it needs a lot of work for example worth £5k.....does he have any chance of negotiating??

csgohan4

worriednoob wrote: »

Thanks for your replies and advice. Unfortunately he is adamant that he wants to stick with them, so all I can do is give him the best advice and hope that he will do the right thing.

Could you please tell me what if the asking price is for example a £100k and the valuation is also a £100k, but the surveyor says it needs a lot of work for example worth £5k.....does he have any chance of negotiating??

Show him the MSE best buy mortgage tables and hopefully he will see sense there may be better deals out there for him.

ACG

If the valuation comes back as £100k even with the work needing doing, would you if you were a vendor accept a lower offer?

Some vendors will, so he could try his luck but I would not count on it.

worriednoob

csgohan4 wrote: »

Show him the MSE best buy mortgage tables and hopefully he will see sense there may be better deals out there for him.

Good idea, thanks!

ACG wrote: »

If the valuation comes back as £100k even with the work needing doing, would you if you were a vendor accept a lower offer?

Some vendors will, so he could try his luck but I would not count on it.

I understand, but from surely from a buyer's point-of-view, would you purchase a property for it's full valuation, yet know that there could be all sorts of problems lurking ahead that could cost you a lot of money?

Also I know lloyds/halifax use Colleys surveyors, but who do Santander use? What are they like?

ACG

I bought my house and it ccame back saying it needed work doing to it. I knew it needed work doing, thats why I bought it as it was an absolute bargain.

The valuation came back as the purchase price with a note saying electrics would need looking at (which was no surprise as there was one plug socket with black sut around it that was the only one working in the whole house.

If someone says it is valued at x but work needs doing - they have still valued it at x. Once the work is completed the value would presumably go up.

If you came back and wanted to renegotiate with me, I would ask to see the valuation. If it said it had been valued at the agreed price it would be a straight no. But everyone is different, there would be no harm in trying I suppose.