How to remortgage with Santander

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

  • Will you need to visit a branch?
  • Do you need to phone them and get the mortgage underway
  • Will in need to fill in any forms?

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.

Your Santander Remortgage

Table of Contents

Is your existing mortgage 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 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 having the very best rate for you?

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

I’m not sure I can be bothered to shop around!

That is understandable as you are probably thinking remortgaging 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.

Let me introduce you to your new friend – Your local mortgage broker

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

Over the years customers have got bored hanging on the phone to 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 who does all this for them?

Paying too much for your mortgage?

Chances are you could save money with a better rate
Ever wondered how wonderful it would be to save money and reduce your monthly outgoings? We do everything for you whilst supporting you every step of the mortgage process.

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 Google reviews. You want the mortgage broker to have lots of good reviews, ideally over a hundred and they should be mostly 5-star reviews. 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 the 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. We pride ourselves on our extremely helpful financial services.

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.

Lenders including Santander charge all sorts of fees.

  • Valuation fees,
  • Legal fees
  • Arrangement fees

The mortgage broker will use mortgage calculators to search for deals that have no charges or fees to arrange a mortgage. Some even offer cashback 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 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 ovff?
  • 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?

Because the mortgage 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 are YesCanDo?

YesCanDo Money are the south of England 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 rates and 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 mortgage and financial advice that is tailored to your very own unique situation. They will then submit your mortgage application through and see your new mortgage through to mortgage offer and then completion.

You will have your very own mortgage advisor who you will be able to communicate by phone, email or Whatsapp. Your mortgage adviser will make the whole research and application process very easy 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.

Questions about your re-mortgage with Santander

How long does a Santander remortgage take?

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 as soon as you can.

Do I need a solicitor to re-mortgage?

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 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.

Could it be worth extending the term of my mortgage to save money?

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 mortgage as this will reduce your monthly mortgage payments. Get advice from your mortgage broker/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.

Who are the FCA?

All mortgage brokers are authorised and regulated by the Financial Conduct Authority FCA. This is for your protection and to make sure that the service and deal you get is the right one for you. You can find our FCA details in the line at the top of this paragraph.

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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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