Step 5: Applying for a mortgage

Even when you’ve applied for a mortgage before, the process can seem complicated, but we’ve helped many customers over the years and we’re here to help you too.

You can apply online, by phone or in branch.

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Mortgage application

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Online
You’ll need to get an instant decision in principle first. This tells you if we could lend you the amount you need based on your monthly income and outgoings. It’s free with no obligation and is valid for 60 days. Plus it’s only a soft credit check which means that it won’t affect your credit rating. 
 
You can then apply for a mortgage online.  You need to be comfortable choosing your mortgage without receiving advice from us. 
 
You’ll be able to see the mortgages you’re eligible for with their monthly payments and any associated fees. Once you’ve chosen your mortgage deal, you can get a Key Facts Illustration (KFI) which essentially is a quote that shows the costs and fees for the mortgage.
 
You don’t have to complete your application in one go. Simply save and come back to it when you’re ready.
 
You’ll get an instant decision (if you submit your application between 6am and midnight Monday to Saturday and 8am and 6.30pm Sunday). This is subject to checking any documents we ask for and a satisfactory property valuation.
 
Phone or branch
You can book an appointment to come into one of our branches or speak to one of our telephone advisers
 
We’ll firstly give you a decision in principle based on your monthly income and outgoings. This tells you if we could lend you the amount you need. 
 
Your Mortgage Adviser will ask you questions about your needs and circumstances so that they can confirm that the mortgage is affordable and advise you on the right mortgage. They’ll also take some details about the property and your solicitor.
 
Next they’ll give you a Key Facts Illustration (KFI) for the mortgage deal. It is essentially a quote that shows the costs and fees for the mortgage.
 
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Having your key documents to hand when you’re applying will make the process smoother

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  • your last three years’ address history, with no gaps
  • your last three months’ payslips or three years’ accounts/ SA302s and Tax Year Overviews (TYOs) if you’re self employed
  • your last three months’ bank statements
  • full details of any loan or credit cards you have
  • ID such as driver’s licence or passport

Valuation and completion

Valuation

Once we’ve completed your mortgage application, we’ll arrange for your home to be valued. This valuation is for our purposes, so we know the value of the property suits the size of the mortgage you’re requesting.

When we’ve had this confirmed we can make you a formal mortgage offer, meaning your mortgage has been approved.

Completion

Finally we’ll instruct the solicitor to transfer the mortgage from your existing lender to us. If you borrow more money at the same time, the solicitor will arrange to pay that directly to you on completion.

Insurance

You will already have insurance to protect your home, but it’s worth reviewing to see if it’s still adequate. Santander customers can get discounts on insurance please click here to see latest offers.

Important Information

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

All applications are subject to status and our lending criteria. This means that the amount we’ll lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a bigger deposit if you’re buying a flat or new build property.