Making one or more overpayments on your mortgage can help you to:
- reduce the amount of interest you pay
- reduce the amount you owe
- be mortgage-free sooner.
Depending on the type of mortgage you have, you may be charged an early repayment charge.
If your Santander mortgage loan is |
Overpayment amount |
Early repayment charge |
|---|---|---|
Not on a fixed rate |
Unlimited |
None |
On a fixed rate |
Up to 10% of the outstanding balance each calendar year (January to December) |
None |
If you would like to overpay more than 10% of your fixed rate mortgage loan in a calendar year, you can find out what your early repayment charge will be in your original mortgage offer, annual mortgage statement or Online Banking.
- Make single overpayments any time.
- Make regular payments by Direct Debit (which you can cancel at any time).
Overpayments calculator
If you’re looking to reduce your monthly payments or pay your mortgage off sooner, making an overpayment to your mortgage may help you do it
Get started
Online Banking
Make an overpayment when it suits you. Log on, select your mortgage account and then ‘Manage my mortgage’.
By phone
Speak to a member of our mortgage team
0800 917 5630
Lines are open 8am to 7pm Monday to Friday and 9am to 1pm Saturday
You can also make overpayments in Online Banking
You can make an overpayment to reduce your monthly payments online or by phone. If you want to reduce your mortgage term you’ll need to speak to us on 0800 783 9738.
You can view your mortgage using Online and Mobile Banking. Online you can see useful information and make overpayments.
If you have a Santander current account, savings account or credit card sign up here
If you have a Santander mortgage, but don't have a Santander current account, savings account or credit card, sign up here
When you enter your mortgage account number it must be exactly as it appears on your Annual Mortgage Statement, so please have a copy handy before you get started.
If your account number doesn’t begin 0915 please call us on 0800 077 8592.
If you want to change your mortgage term or repayment method you should check whether the changes you want to make are affordable by using our calculator.
Changes to my existing mortgage calculator
If you’re looking to make changes to your mortgage term or repayment method
Get startedBefore you call us to talk about changing your mortgage term or repayment method you’ll need several documents to hand.
You’ll also need the results from the ‘changes to my existing mortgage’ calculator.
By phone
Speak to a member of our Mortgage team
0800 051 5579
Lines are open 9am to 7pm Monday to Friday and 9am to 2pm Saturdays
If you want to add or remove someone from your mortgage we’ll need to make sure you can still afford the payments after we make the change. To do this we’ll look at your income and outgoings.
- pay a £95 fee on completion and
- appoint a solicitor and pay any associated costs.
By phone
Speak to a member of our mortgage team – you’ll need to have your budget calculations to hand
0800 051 5579
Lines are open 9am to 7pm Monday to Friday and 9am to 2pm Saturdays
- you’ve had your Santander mortgage for more than 6 months; and
- you’re not in arrears on your mortgage payments.
By phone
Speak to a member of our mortgage team
0800 917 5630
Lines are open 8am to 7pm Monday to Friday and 9am to 1pm Saturday
To change your address we’ll need a recent utility bill.
To change your name we’ll need a copy of your new and old signature and one of the following:
- marriage certificate
- decree absolute
- birth certificate
- change of name deed
- civil partnership certificate.
In certain situations we may need some more information from you, but if we do, we’ll let you know.
You need to write to us to let us know what you would like to change with the right documents.
Santander mortgages |
Alliance & Leicester mortgages |
It’s important you have a repayment plan in place to repay your interest only mortgage when it ends. If you don’t have a plan, you can think about these options:
Switch to repayment |
Convert part or all of your interest only mortgage to repayment so it pays off the interest and the capital. |
|---|---|
Make overpayments |
Make overpayments on your mortgage to reduce the capital balance. You can do this easily online
|
Sell your home |
If you’re planning to sell your home, you should make sure once you’ve sold your home you will have enough money to pay off the mortgage and enough money left over to buy another home. |
Take a lifetime mortgage |
A lifetime mortgage is a form of equity release secured against your home with no need to make monthly payments. Santander doesn’t offer lifetime mortgages but we’ve partnered with Legal and General. Learn more about lifetime mortgages with Legal & General |
If you have concerns about how you’re going to repay your interest only mortgage, free, independent advice is available from:
Call 0300 500 5000 or visit the Money Advice Service site
Call 0345 404 0506 or visit the Citizen's Advice Bureau site
Call 0808 808 4000 or visit The National Debtline site
Call 0800 138 1111 (free from all mobiles) or visit the StepChange site
If your Buy to Let mortgage is coming to an end you can change deal online or over the phone. See our changing deals section for more information on how to do this.
There a number of things you need to take into account when letting a property. You can find out what your responsibilities are as a landlord on the government’s renting out a property pages
The amount of tax you pay on Buy to Let properties is changing and could reduce the amount of income you earn from your Buy to Let properties.
For more information about these changes visit the government’s Buy to Let pages
If you have 4 or more mortgaged Buy to Let properties you’re a portfolio landlord. There are no changes to existing Buy to Let mortgages with us, and you’ll be able to switch to a new product once your existing deal expires (subject to standard criteria), but we won’t be able to offer you a Buy to Let mortgage on a new property.
The Bank of England base rate is the official interest rate set by the Bank of England’s Monetary Policy Committee. Banks and building societies use the base rate to calculate interest rates for some mortgage products.
The Bank of England base rate is currently 0.75%.
Santander’s FoR is currently 4.00% (the Bank of England base rate plus 3.25%).
Santander’s SVR is currently 4.99%.
The Alliance & Leicester SVR is currently 4.99%.
This depends on your type of mortgage.
Follow-on Rate (FoR) |
Santander’s FoR is a variable rate that all mortgage deals taken after 23 January 2018 will automatically move to after the deal period finishes. The FoR tracks, and is directly linked to, the Bank of England base rate, meaning it can go up or down. |
|---|---|
Standard Variable Rate (SVR) |
SVR is the rate that all mortgage deals taken before 23 January 2018 will automatically move to after the deal period finishes. Both the Santander and Alliance & Leicester SVRs are managed rates and not linked to the Bank of England base rate. Both SVRs are variable rates so payments could move up or down. |
Tracker rate mortgage |
Tracks the Bank of England base rate for a set period of time. Your monthly payment will go up or down depending on movements to the base rate, so you need to be sure that you would be able to afford the payments should interest rates increase. Lifetime Tracker and Flexible Offset mortgages are guaranteed to track the Bank of England base rate for the life of the mortgage. |
Fixed rate mortgage |
If you choose a mortgage deal where you fix your interest rate your monthly payments will stay the same. You’re protected from increases to the Bank of England base rate during the deal term. You won’t be able to take advantage of any decreases to the base rate during the fixed deal term. |
If you're not sure what type of mortgage you have, you can check your original mortgage offer, annual mortgage statement or the mortgage account details in Online Banking.
- Use our mortgage calculator to work how a change to the Bank of England base rate could change your monthly mortgage payments.
- Use our budget planner to work out your monthly spending and see where you could make some savings.
- If you’re coming to the end of your existing deal, on the Standard Variable Rate, Follow-on Rate or on a deal with no early repayment charge you could choose a new deal. Take a look at our changing deals section
If you’re still worried about a change in your interest rate and how it might impact you, we can help
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