A simples guide

Santander Mortgages

Santander made its first appearance on the British high street in 2010 when the Spanish-owned bank rebranded the Abbey National and the savings department of Bradford & Bingley. Now it has established itself as one of the biggest banks in the country.

If you are thinking of taking a mortgage with Santander, or any other mortgage provider, make sure you’ve done your homework. You need to compare the rates, as well as the terms and conditions to make sure you’re getting the right deal for you. Our price comparison service can help you there.

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What mortgages are on offer at Santander?

Santander offers a variety of mortgages and is one of a few banks to still offer Interest Only repayment plans. This type of mortgage used to be commonplace, but now they are rarely approved as the mortgage only covers the interest charges rather than paying back the mortgage itself. The capital still needs to be repaid when the mortgage term ends, so even if you go for this option you may need a separate investment scheme to cover the mortgage capital.

Most customers will opt for a repayment plan and then the main choice comes down to a fixed rate or tracker mortgage. The fixed rate is generally in place for two, or five years. That gives you the peace of mind of knowing that your mortgage payment will stay constant during that term, no matter what happens to the interest rates. The tracker changes up and down with the Bank of England base rate.

Do watch out for product fees which apply on some mortgages and make sure you factor them into your budgeting to make sure you’re not hit by any surprises.

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What mortgage rates are available at Santander?

The mortgage rate you can get with Santander, depends on a number of factors. The type of mortgage and how much you want to borrow to name but two. To give you an idea though, it’s best to have a look at the rates and deals that are available in our mortgage tables. 

Should I compare the market?

Santander has a solid range of mortgages that may well suit your needs. Before you commit to any long-term financial product though, you should do a thorough comparison with other mortgage providers. A number of mortgage providers want your business and that means the offers change all the time. Some focus on introductory offers, others provide a longer fixed-rate and others will offer payment holidays or other flexible terms.

So make sure you have the full facts at your disposal and make sure that you have compared the best mortgages on the market right now. We can help you there – why not take a look at our mortgage tables to find the right one for you.

All Santander mortgage details are based on information available on Santander.co.uk on 4 November 2016

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