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Santander's Follow-on Rate

As an existing customer, the Follow-on Rate (FoR) is an option for you to consider if you’re already on our Standard Variable Rate (SVR) or when your current deal ends. 

  • All mortgage deals taken on or after 23 January 2018 will transfer to the FoR when the initial product period ends.  For example, if you take a new 2 year fixed rate your mortgage will automatically transfer to Santander’s FoR when the fixed rate period ends.
  • Mortgage deals taken before 23 January 2018 will continue to transfer to Santander’s SVR when the initial product period ends.

What is Santander’s Follow-on Rate (FoR)?

  • It’s a variable rate that tracks the Bank of England base rate so will always move in line with Bank of England base rate changes.
  • This means your interest rate and monthly payments will move up and down as base rate changes. 
  • It has no early repayment charges. 
  • There is no product fee.

How is the Follow-on Rate (FoR) different to the Standard Variable Rate (SVR)?

  • The FoR tracks and is directly linked to the Bank of England base rate, so whenever the base rate changes so will the FoR. This means your interest rate and monthly payments will always move up or down in line with Bank of England base rate changes. 
  • SVR is a rate managed by Santander and it is not directly linked to the Bank of England base rate, so changes to base rate may not always result in a change to SVR. 

Can I transfer to the Follow-on Rate (FoR)?

  • If you’re currently tied into a mortgage deal, such as a fixed rate that will transfer to SVR when it ends, you can’t transfer to the FoR straightaway.  However, it will be available for you to consider as an option, alongside other deals, when your current product comes to an end. 

To find out when your current deal ends you can check your original Mortgage Offer, annual mortgage statement or the mortgage account details screen in Online Banking.

  • If you’re already on the Santander or Alliance & Leicester SVR the FoR is available for you to consider as an option now. You can review all the deals available to you in our online mortgage transfer service. Alternatively you can speak to one of our Mortgage Advisers on 0800 085 1352. Lines are open 9am to 7pm Monday to Friday and 9am to 2pm Saturdays.
  • To work out how a change from SVR to the FoR could impact your monthly payments use our calculator.
  • Your mortgage account must be up to date (i.e. no arrears) before you can transfer to a new deal, including the FoR.
  • Once you’ve transferred to the FoR you won’t be able to transfer back to SVR.
  • If you’re on SVR and don’t want a new deal, you don’t need to do anything.



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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