Are Santander Product switch options credit score based?

7sefton

Hi everyone

My large (£700k) fixed mortgage with Santander comes to an end September 2024. At that point I’ll either remortgage somewhere else or switch to whatever Santander offer me. 

However I’m keen to understand how I should be managing my credit score between now and then. When I got the mortgage it was ‘excellent’ but since then I’ve hammered it refinancing all of my 0% credit cards, so it’s now ‘very poor’. No more credit card applications required, but tempted by a few current account switch deals.

I know my credit score matters for remortgages, but for the Santander product switch offers will these be tailored to my credit score? If so, I’ll stop now and let my credit score recover over the next 18 months, but if not I’ll still do a few current account switches safe in the knowledge I’ll get a decent-ish offer from Santander.

Thanks for any advice!

chanz4

be on ltv if existing

kingstreet

Santander retention products are borrower-specific so it is possible there are some data inputs which determine the products offered. Credit score may be one of them.

FashionHeart

https://forums.moneysavingexpert.com/discussion/6443468/are-santander-product-switch-options-credit-score-based

If you intend to stay with Santander, credit checks are not required - unless you apply for additional borrowing, this is where a credit check is needed to check affordability.

If you do not require additional borrowing, then the rate offered depends on your LTV (Loan to Value) at the time of the remortgage.