What remortgage rates are Santander offering existing customers?

Little_bit_taller

Hi all

Has anyone had experience of this?

As an existing customer are the remortgage rates similar to what new customers are offered? I will have approx £130k to pay on a £235k house value. Just trying to get a handle on what is coming after being on a less that 2% mortgage!

Am obviously hoping not to have to remortgage to a new lender…

Thank you

Typhoon2000

Do you product switch rather than remortgage?

https://www.santanderforintermediaries.co.uk/media/lzkp2134/product-transfer-rate-bulletin-effective-04-march-2026.pdf

Little_bit_taller

https://forums.moneysavingexpert.com/discussion/comment/81914892#Comment_81914892

I am waiting to I need to remortgage. i have not heard of product switching. Is it something I should consider?

Typhoon2000

A remortgage is when you pay off your exiting mortgage and and get a new mortgage with a different lender. A product switch is you keep your existing mortgage and get a new product like a 5 year fix when you existing product comes to an end, rather than go onto the follow on SVR.

Little_bit_taller

@Typhoon2000 - my current mortgage deal is coming to an end in August. I am curious to know what mortgage deals. or is this a product switch. Santander will offer? Sorry am not good with all the lingo.

Emmia

https://forums.moneysavingexpert.com/discussion/comment/81914917#Comment_81914917

If you stick with Santander e.g. with a new fix, it's a product switch you'll be able to move with just a few clicks online - no affordability checks valuations or surveys that you get with a new mortgage.

If you move lender, you'll need to go through the whole rigmarole of checks etc. the same checks as those when you first took out the mortgage.

Typhoon2000

Here are the current rates for product transfer/switch
https://www.santanderforintermediaries.co.uk/media/lzkp2134/product-transfer-rate-bulletin-effective-04-march-2026.pdf

michaels

You can see what rates are available online once you are in the switch window (which may be nearly 4 months even though they quote 3) and then chose a rate to start when your current rate ends with the freedom to still switch to any better deal they release up until about 2 weeks before the actual switch date.

Nasquerns

With ~55% LTV you’re actually in a pretty solid bracket, so the rates Santander offers you shouldn’t be wildly different from new deals - definitely check their product transfer options first since it’s usually the easiest route.

Little_bit_taller

https://forums.moneysavingexpert.com/discussion/comment/81914946#Comment_81914946

Is it really just a few clicks on the app? Do you have to show anything like bank statements etc? This process does sound a lot less arduous!

Yorkie1

For a product transfer, i.e. staying with the same lender, there are no new checks on income, bank statements etc.. This is because you already have the mortgage with them. You are not applying for a new mortgage, you are just changing the interest rate you pay.

If you change to a different mortgage lender, you have to start from scratch because you haven't applied with them before.