Santander Mortgage in 2 parts - can I move one to another provider?

Delta_1984

Hi, 

I imagine this has come up previously, but I've struggled to find and answer.

I have two parts to my mortgage with Santander due to borrowing extra when extending the house. One part is fixed until mid 2025, and the other is up for renewal April 2022, both have ERC of ~£4k (each). So for the second part, means I can't quite lock into a renewal yet as Santander only offers this 4 months in advance. I understand other providers offer rate lock-ins up to 6 months in advance so with rates rising so fast wanted to look into moving that part of the mortgage. Is this possible to do? AFAIK there's nothing stating what % of the house is against each part of the mortgage or alike, so not obvious to me how they would be able to do this? 

I intend to ask Santander directly, but thought someone here might have some experience of this?

Thanks for reading

K_S

@delta_1984 No, you can't move just one part unfortunately. To remortgage to another lender, it'll have to be both parts.

Delta_1984 said:

Hi, 

I imagine this has come up previously, but I've struggled to find and answer.

I have two parts to my mortgage with Santander due to borrowing extra when extending the house. One part is fixed until mid 2025, and the other is up for renewal April 2022, both have ERC of ~£4k (each). So for the second part, means I can't quite lock into a renewal yet as Santander only offers this 4 months in advance. I understand other providers offer rate lock-ins up to 6 months in advance so with rates rising so fast wanted to look into moving that part of the mortgage. Is this possible to do? AFAIK there's nothing stating what % of the house is against each part of the mortgage or alike, so not obvious to me how they would be able to do this? 

I intend to ask Santander directly, but thought someone here might have some experience of this?

Thanks for reading

Delta_1984

K_S said:

@delta_1984 No, you can't move just one part unfortunately. To remortgage to another lender, it'll have to be both parts.

Thank you for the quick reply - saves me trying to get through to Santander on the phone and sitting on hold for ever! Will have to see what the next 2 months bring and hope to lock in at an acceptable rate with Santander!

dimbo61

Up for renewal in April 2022 ? Typo perhaps and should be April 2023 ?
Can you check on the Santander website for new deals for existing customers ?
This will also tell you when you can sign up for a new deal for 2 years !