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How to remortgage with Santander

How to remortgage with Santander

How to remortgage with Santander

So your remortgage is due and you are thinking of using Santander.

  • Will you need to visit a Santander branch?
  • Do you need to phone Santander to get the mortgage underway
  • Will in need to fill in any forms?
  • Do you still fit the Santander lending criteria?
  • Will Santander charge you a product fee?

To remortgage with Santander you need to either call the Santander mortgage service centre or alternatively get a mortgage broker to submit your mortgage on your behalf.

Your existing fixed rate is coming to an end and you may be thinking of remortgaging with Santander. In this guide, we will tell you the easiest way to get your new deal underway with Santander however we will also give you a couple of other options that may save you a lot of money.

Santander Remortgage

Your mortgage renewal with Santander

If your existing mortgage is already with Santander did you know that you do not need to stay with them to get your next fixed or tracker rate?

Something to consider before you decide to stay with Santander…

Did you there are over 100 different lenders in the UK to chose from? Those 100 different bank and building societies offer over 14,000 different mortgage rates between them!

You would be mad to assume it is best to stay with your existing lender. You will probably lose thousands of pounds by staying and settling for a poor interest rate and deal.

Question – What are the odds of Santander mortgage centre will have the very best rate for you?

Answer – 14,0000 to 1 (very unlikely!)

Shop around to compare the whole mortgage market

Not sure if you can be bothered to shop around? That is understandable as you are probably thinking remortgaging away from Santander is a lot of hassle and hard work with lots of paperwork. What if there was someone that offered financial services and did all the research and application for you. What if to top it all off we told you they did it all for free!?

You can actually remortgage for free if you take advantage of a few incentives. < Find out how here.

Mortgage Transfer Service

It is possible to transfer your current mortgage from one property to another. This is called porting your mortgage and can be a viable option if it is not yet the right time to remortgage but you want to move home.

Learn more about mortgage porting here.

A fee-free mortgage broker does it all for you

Did you know that over 70% of mortgages in the UK are arranged by mortgage brokers?

Over the years Santander mortgage customers have got bored hanging on the phone to Santander mortgage call centres to talk to someone. They no longer want to have to take half a day off work to travel to their local town and sit in front of a bank clerk for hour upon hour!

Is it no surprise that the vast majority now use a mortgage broker to carry out a mortgage transfer service?

How do I find a mortgage broker near me?

To find financial services or a local mortgage broker we would suggest you ask your family and friends who they use and if they would recommend.

You could also use Google and search for something like fees-free independent mortgage broker or mortgage broker near me.

The most important thing to look out for is to have a look at the brokers’ website and more importantly there Trust Pilot and Google reviews. You want the mortgage broker to have lots of great reviews, ideally, several hundred, and they should be mostly 5-star reviews from happy customers. This will confirm that they help lots of people with their mortgage and more importantly those customers are very happy with the service they are receiving.

How come a fee-free mortgage broker doesn’t charge me?

It’s quite simple, the brokers don’t have to charge as the lender pays them. With Banks and Building Societies shutting branches more and more especially during the 2020 COVID-19 pandemic they have found it beneficial to pay mortgage brokers to process the mortgages on their behalf.

A word of caution! Although all mortgage brokers get paid by the provider some charge you an additional fee anywhere between £500 and £1,000. But YesCanDo Money don’t!

That’s why you need to make sure you search for – fees-free mortgage broker when you Google. This way you will find a broker that does not charge for their services.

What else can a mortgage broker do for me?

Brokers actually do quite a lot for you!

The broker will have mortgage advisers sometimes called mortgage consultants that will be able to give you sound mortgage advice. They will ask if you are trying to raise extra funds to carry out home improvements or perhaps to repay credit cards or loans. YesCanDo prides itself on being an extremely helpful financial services company getting you the best mortgage rates.

Once the broker gains some information and then understands what you are wanting to achieve they will search the whole market to get you the very best interest rate and deal with an award-winning mortgage provider.

Lenders including Santander charge a range of fees.

  • Valuation fee
  • Legal fee
  • Arrangement fee
  • Product fee

The broker will use mortgage calculators to search for deals that have no charges or product fee to arrange a mortgage. Some even offer cash back incentives to gain you as a new customer; which we can show you.

FACT – Getting a low-interest rate could save you several thousand pounds over the term of the mortgage!

Santander Remortgage

The importance of expert mortgage advice

It’s really important that you get good advice, Yes the mortgage broker will get you the very best rate on the market however they will also give you sound financial advice. Amongst other things, they will discuss.

  • How long do you want to fix for? 2 years, 5 years, or even 10 years.
  • Are you wanting to raise extra funds for home improvements?
  • Are you wanting to raise extra funds for debt consolidation?
  • Will you want to overpay or pay a lump sum off?
  • Do you want to reduce or extend the term to save money?
  • Are you likely to want to move home in the next few years?
  • Would it be beneficial for you to go onto the Bank of England Base rate?
  • Will your mortgage payments increase?
  • Is it better to pay a product fee to get a lower interest rate?
  • Is it better to choose a Fixed-rate or a Tracker rate?

Because the broker is independent you will get good independent advice and information that is tailored to your very own situation and requirements.

Summary of remortgaging with Santander

So you have two choices.

  1. The first choice is to go with Santander for your new deal hoping that with over 14,000 mortgage rates available from over a hundred different banks and building societies that your current lender will have the number one deal for you!!!
  2. Call YesCanDo Money – We can get you the best deal, save you money, give outstanding customer service and do it all for FREE!

Who is YesCanDo Money?

YesCanDo Money is the south of England’s largest NO FEE independent mortgage broker with a large team of local advisers.

They will search the whole mortgage market to find you the lowest mortgage rate and mortgage deal! It won’t cost you a penny as the lenders including Santander pay us as brokers to do this for you.

YesCanDo will give you sound financial advice that is tailored to your very own unique situation. They will then submit your mortgage application and see your new mortgage through to the mortgage offer and then completion.

MORTGAGES: WE'LL DO IT ALL FOR YOU

YesCanDo mortgage advisors do it all for you! The advice, the application, all the paperwork, the bank and solicitor chasing, and take away the stress. Plus we’re fee-free.

Why our mortgage advisers are highly rated

We strive to provide highly efficient modern customer service. At YesCanDo Money you will be assigned your very own mortgage advisor with who you will be able to communicate by phone, email, or WhatsApp. Your adviser will make research the whole mortgage market to get you the very best rate and will share this research with you.

Once you are happy with the rate and monthly payments they will submit your mortgage application for you. If the Lender requires any paperwork including banking accounts and your payslips they will sort this out for you.

They will talk to your old and new mortgage lender through the whole mortgage process. We always delegate you with an adviser to be on hand to answer any mortgage question and give you any information you require at any stage.

It usually takes 2 months. However, there is definitely no harm in starting the re-mortgage process earlier than this. With the bank of England base rate being reduced to a historic low, it makes total sees to grab a low fixed rate and low low monthly payments as soon as you can. The Bank of England base rate is currently 0.1%.

You will need a solicitor, however, the good news is you it won’t cost you.

When you bought your property you will have used the services of a solicitor or conveyancer. It is similar when you remortgage although there is a lot less the conveyancer will need to do as you already own the property. The conveyancer’s main job role is to use the money raised with your new mortgage lender to pay off your old lender. They will also bank transfer over any money you have raised for home improvements or debt consolidation.

Are you thinking “Can I increase the term of my mortgage?”. It may be that you are finding your finances stretched. If so another consideration would be to extend the term of your Santander mortgage as this will reduce your monthly mortgage payments. Get advice from your mortgage adviser before you make this decision. You will save money possibly thousands of pounds in the short term, however, over the long term, this will cost you a lot as you will pay far more.

All mortgage brokers are authorised and regulated by the Financial Conduct Authority. This is for your protection and to make sure that the service and rate you get is the right one for you.

Roberts Financial Services’ trading name is YesCanDo Money who you find on the financial services register as they are authorised and regulated by the Financial Conduct Authority.

Santander Banking, Triton Square, Regent’s Place, Central London United Kingdom are regulated by the Prudential Regulation Authority.

Request a call back from one of our mortgage advisers

Please complete our website contact form and one of our expert advisors will call you back.

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Steve Roberts
Steve Roberts

Stephen Roberts MAQ is the founder of YesCanDo Money, Hampshire's largest no-fee mortgage brokers. With over 30 years of mortgage experience, he has advised and helped thousands of First-time buyers buy their first home and home movers buy their dream home. Speak to a mortgage expert today by completing our contact form:

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