If you're looking for more information about the Bank of England base rate and how any change might affect your monthly mortgage payments, we've got information and tools to help you.
The fast and easy way to change your mortgage
Is your current deal coming to an end or are you just thinking about changing your existing deal? With exclusive rates for existing customers, you can either call us for advice or compare the deals available to you and submit your transfer request online.
Make your move a great one
If you're moving home and want to keep your mortgage with us, you may be able to take your current mortgage deal with you or you could take a new deal with us.
All you need to know about borrowing more
If you've got some exciting home improvements or other plans in mind and need to borrow a lump sum of £5,000 or more, an Additional Loan could be an affordable option.
Need to make a change? Here's how
If you're looking to make changes to your current mortgage including making an overpayment, adding or removing someone on your mortgage, changing your term or you have other queries, we could help.
Helping you with your Buy to Let property
Being a landlord can mean there's a lot to think about, and we're here to help. Take a look at our useful information on the responsibilities and financial considerations you need to take into account when letting a property.
Get an up-to-date view of your mortgage in Online Banking
If you have Online Banking you may be able to see useful information about your mortgage including: outstanding balance and term remaining, next monthly payment, interest rate, when your deal ends, any early repayment charges, plus the last twelve months of payments.
If you’re not already using Online and Mobile Banking you can sign up today
All applications are subject to status and our lending criteria. This means that the amount we will lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a higher deposit if you are buying a flat or a new build property.
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You have an Interest Only mortgage if:
Your mortgage is described as Interest Only on your paperwork and mortgage statement
Your monthly payments do not pay off the capital (the money you’ve borrowed) on your mortgage.
you have an endowment, ISA or other repayment plan linked to your mortgage.
We recommend checking your repayment plans are on track at least yearly – and more often if possible. This means if your plans aren’t as expected, you can act as early as possible to make sure you can still pay off your Interest Only mortgage at the end of the term.
Remember to check:
the amount you will owe at the end of your mortgage – find this on your mortgage statement
the amount your repayment plans are likely to produce and whether this will cover the amount you’ll owe.
If you want to speak to someone
Call us on 0800 028 1624 . Lines are open 8am to 7pm Monday to Friday and 9am to 2pm Saturday
There are a number of options open to you. Your options could include:
1. Change your mortgage from an interest only to a repayment mortgage with, or without, changing your mortgage term.
2. Make overpayments on your interest only mortgage to reduce the capital outstanding, with the aim of paying it back by the end of the mortgage term. You can overpay up to 10% of any interest only fixed rate loan amount each calendar year (January to December) without paying an early repayment charge. If you‘ve got an Alliance & Leicester mortgage, you can overpay up to 10% of any interest only fixed rate loan amount in January of each year without paying an early repayment charge.
The majority of our tracker rates and Standard Variable Rate mortgages allow you to make unlimited overpayments without paying an early repayment charge. Check your original Key Facts Illustration for more details.
3. Consider selling your property or any other assets you hold, to pay back your interest only mortgage and consider downsizing to a lower value property.
Talk to us
We can help you understand the options available to you. Call us on 0800 085 0980. Lines are open 9am to 5pm Monday to Friday.
Talk to an Independent Financial Adviser (IFA)
They may charge a fee but can help you work out the best plan for you. Find an Independent Financial Adviser in your area
When you talk to either us or an independent financial adviser, it can help to have a good idea of:
current and future expenses
the value of your home
how much you owe on your mortgage
your mortgage term
the projected value of your existing repayment plans
the age you intend to retire.
Talk to us
We may be able to help so please call us on 0800 028 1628, Lines are open 8am - 7pm Monday to Friday and 9am - 2pm Saturday. We’ll ask for your mortgage account number which can be found on your latest mortgage statement.
Get free, independent advice
It’s free to talk to any of these organisations:
The Money Advice Service
Call 0300 500 5000 or visit the Money Advice Service site
Citizens' Advice Bureau
Call 0345 404 0506 or visit the Citizen’s Advice Bureau site
The National Debtline
Call 0808 808 4000 or visit The National Debtline site
The StepChange Debt Charity
Call 0800 138 1111 (free from all mobiles) or visit the StepChange site
Why have you written to me?
The Financial Conduct Authority (FCA), one of the UK Financial Services Regulators published a review of Interest Only mortgages in 2013 which reminded borrowers that it remains their responsibility to have a suitable plan to repay their Interest Only mortgage at the end of the term. Santander, along with other lenders, is contacting customers to make sure they have suitable plans to repay the capital when their Interest Only mortgage ends.
Do I need to do anything because of this letter?
If you have received a letter there is the option to either complete a short form and return it to us in the pre-paid envelope, call us on the free phone number on the letter or you can use our online form to update us on your repayment plans.
How do I access the online form?
To use the form you will need to tell us your date of birth, the reference on the letter you received from us and your postcode. You will then be able to complete and submit the form. Please note you will only be able to complete the online form once.
Mortgage and Loan Operations
Alliance & Leicester Mortgages:
Santander Image and Document Centre
If you have Online or Mobile Banking, you can see your mortgage balance alongside any other accounts that you hold.
If you don’t already have Online or Mobile Banking and have a mortgage with us and also a current account, savings account or credit card, sign up for Online and Mobile Banking today
If you have a mortgage with us but not a current account, savings account or credit card you can still sign up for Online and Mobile Banking
You can make overpayments on your Flexible Offset mortgage at any time. Simply use Online Banking to change the payment amount or call us on 0800 917 5630 Lines are open 8am to 7pm Monday to Friday and 9am to 1pm Saturday.
Underpayments and payment holidays
If you have the funds available in your savings pot, you can underpay and take payment holidays, giving you control of your payments. Simply use Online Banking to change the payment amount or call us on 0800 917 5630 Lines are open 8am to 7pm Monday to Friday and 9am to 1pm Saturday.
To access the available funds on your Flexible Offset mortgage simply use Online Banking.
You can ask for a Credit Limit Review to borrow up to a maximum of 75% of the value of your home by simply using Online Banking or calling us on 0800 092 3881. Lines are open 9am to 7pm Monday to Friday and 9am to 2pm Saturdays.
If you decide you want to move home, your Flexible Offset mortgage can easily be transferred to your new home, so you can enjoy the same great rate, even if you need to borrow more.
Simply arrange to speak to a Mortgage Adviser by calling 0800 092 3881. Lines are open 9am to 7pm Monday to Friday and 9am to 2pm Saturdays.
If you use Online Banking, you can see and manage your Flexible Offset mortgage online.
If you have a Santander current account, savings account or credit card as well as your mortgage, sign up for Online and Mobile Banking
If you have a mortgage with us but no Santander current account, savings account or credit card, you can still sign up to view and manage your mortgage online. You’ll need your mortgage account number which you can find on your latest statement.
Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register. Santander and the flame logo are registered trademarks.