Who is this guide for?
This independent expert guide looks at the latest news and reviews for Santander Mortgages to explain if it’s a good option for families. There are lots of different options in the UK mortgage market at the moment for parents and the best option for your family will depend on your financial circumstances and your background.
Santander Mortgage Review for Families 2025
Santander Mortgages is one of the Top six mortgage lenders in the UK for most types residential and buy to let mortgages. In 2025, we know that mortgage rates are dropping and so it’s a good time to review your current mortgage deal for your family to save money on your monthly repayments.
Santander has been a household name in the UK since 2010, and millions of UK homeowners have chosen Santander as their mortgage lender. Based on the latest statistics from Statista, Santander provides 11.4% of all UK mortgages. This makes them the UK’s 4th biggest lender, behind Nationwide, NatWest, and Lloyds Bank.
Choosing the right mortgage lender is incredibly important, as mortgage repayments will usually be a household’s biggest expense each month. You could save £100’s per year with the right lender, which can make a massive difference to your family’s financial situation.
Santander is one of the main lenders that have recently cut their mortgage rates, to provide more affordable options for struggling families across the UK. In our Santander mortgage review, our Money Mum and Dad explore how a Santander mortgage might work for you and your family and the main advantages and disadvantages that you need to be aware of.
60 Second Summary – Is Santander a good mortgage lender?
Santander mortgages are a popular choice in the UK, and according to Which? there are more than 134 different mortgage deals available (as of 2023). There are several pros and cons to consider before choosing Santander for your new mortgage or remortgage deal, which our Money Mum and Dad have explained in detail below.
- Santander offers a range of mortgage deals, with options including buy to let mortgages, shared ownership mortgages, and new build mortgages.
- Santander provides various customer benefits such as no fees for overpayments on certain mortgage types, support for struggling mortgage payers, and access to affordable home ownership schemes.
- Santander has received positive industry ratings for customer satisfaction, with a rating of 61.16% from Fairer Finance and a rating of 71% from Which?.
- Santander mortgage rates start from around 5% on average for fixed rates, and the current Standard Variable Rate (SVR) is 8.5%.
What types of mortgages can I get from Santander?
As Santander has millions of UK customers, you likely know someone who has a Santander bank account or mortgage. If not, you might have seen one of their TV adverts like this one that features the popular presenting duo, Ant and Dec.
Santander TV advert campaign 2021
Santander Bank television advert campaign with Ant and Dec to promote its new 1|2|3 current account with cashback on household bills.
There are quite a few options for mortgages from Santander, so you need to think about the type of mortgage that you might need. Our MPO finance experts would suggest thinking about these three simple steps when deciding on which mortgage is right for you.
Step 1: How do I want to repay my mortgage?
- Interest only mortgage – This is where you only repay the interest on your mortgage during your mortgage term, and repay the full amount at the end of your mortgage. This is a popular option for landlords, who can use their rental income to repay the mortgage.
- Repayment mortgage – This is the most common type of mortgage, where you repay both the mortgage loan and interest every month.
Step 2: Which type of mortgage do I need?
- Traditional mortgage or remortgage – Santander has a variety of fixed-rate and variable rate deals that are suitable for a new mortgage or remortgage deal.
- Santander Buy to Let mortgage – These mortgages are used when buying property that you intend to rent out (e.g. if you are a landlord or investor).
- Santander Shared Ownership mortgage – Shared ownership is a useful option for first-time buyers or buyers with a more limited budget. You can get a mortgage for a set percentage of the property (e.g. 50%), with the option to buy more equity in your home at a later point (staircasing).
- Santander New Build mortgages – This is a mortgage for buying a new build property (i.e. one that has never been lived in before).
- Santander Help to Buy mortgages – Santander allows first time buyers to use things like Help to Buy schemes to make buying a home more affordable.
- Santander Right to Buy mortgage – This is where you are applying to buy your council home at a discounted price, which is an option if you have lived there for 3 or more years and the council are willing to sell.
- Santander mortgage for a second home/holiday home – Santander can also provide mortgages for second homes, like a holiday property for you and your family.
- Santander Offset mortgages – A Santander ‘Flexible Offset’ mortgage allows you to borrow more money against your current mortgage.
Step 3: Which type of interest rate do I want?
Santander offers several options for mortgage interest rates, which includes fixed rate, variable rate, and tracker mortgages. Think carefully about which type of interest rate you choose, as this will directly affect how much you pay for your mortgage each month.
- Santander fixed rate mortgage – The interest rate you pay will stay the same for an agreed period of time, usually 2, 3 or 5 years. You will then be moved the Santander Follow-on Rate (variable rate).
- Santander tracker rate mortgage – The interest you pay changes in line with increases or decreases in the Bank of England base interest rate, set for 2 or 3 years at which point you will be moved to the Santander Follow-on-Rate (variable rate).
- Lifetime tracker mortgage from Santander – The same as a standard tracker rate mortgage except that you will be on the tracker rate for your monthly payments for the entire mortgage term.
Are Santander mortgages any good?
It’s fair to ask how ‘good’ Santander mortgages are, as a mortgage is a massive financial commitment for you and your family. The simplest way to assess the quality of a mortgage is by looking at things like industry ratings and customer reviews, to get an idea of what other people think.
- Santander won the Best Online Lender Award at the Your Mortgage Awards 2023, and was highly commended for the Best Remortgage Lender Award at the 2023 WhatMortgage Awards.
- Fairer Finance is a similar website to Defaqto, providing impartial reviews of UK financial products like mortgages. They have rated Santander as 67% for customer experience, based on complaints, transparency, and customer trust and happiness with their mortgage products.
- The first point of call for customer reviews is Trustpilot, where Santander is rated 1.5 out of 5.0 Stars. While this is not a great score, it’s important to note that this score is for all of Santander’s products and services.
Which? recently surveyed Santander mortgage customers, who gave Santander a customer satisfaction score of 71%. Throughout this survey, Santander did not score below 3 Stars in any area, as can be seen in the screenshot below.
Note: This was a survey of 171 Santander customers, within a survey of 3,450 UK mortgage holders. These ratings can indicate a general opinion of Santander but doesn’t necessarily reflect the experience of every Santander mortgage customer.
Benefits of Santander mortgage deals
Santander Mortgage deals can offer great value for money for thousands of families with mortgages in the United Kingdom, here are some of our top benefits for parents choosing a Santander mortgage.
- If you apply using a mortgage broker, you can access specialist Santander mortgage products and deals that might not be available through other channels (Santander for intermediaries).
- Convenient online service where you can contact Santander through any channel e.g. live chat and pick up where you left off even if through another channel.
- Online budget planner to help you cut costs if you are struggling to afford your mortgage repayments.
- FREE EnergyFact report from Countrywide Surveying Services to help you save on household bills by making your home more energy efficient.
- FREE standard property valuation on properties worth up to £2.5million with selected Santander mortgage products.
- Supports affordable home ownership schemes including shared ownership mortgages and acceptance of Help to Buy ISAs/Lifetime ISAs.
- Santander can offer incentives such as paying standard legal fees or £250 cashback when taking out a buy to let mortgage or remortgaging to Santander from another lender.
Pros and cons for Santander Mortgages
Pros
- Can borrow up to 5.5x your average income (maximum amount).
- Wide range of mortgages to choose from including standard residential and buy to let mortgages.
- A lot of free extra benefits are included for Santander mortgage customers (listed above).
Cons
- You will need to budget for extra fees during your application.
- Can’t overpay more than 10% each year without being charged (fixed rate mortgages only).
- Might not be the best lender for every applicant (e.g. if you have a poor credit history).
How do Santander mortgages work?
A Santander mortgage allows you to borrow the money that you need to buy a home or investment property, and you will then repay this to Santander over a set time (your mortgage term). You will usually need to provide a sum of money upfront (deposit), and generally this needs to be at least 10% of the value of the property, or 5% if you are a first-time buyer.
It’s easy to end up paying too much for your mortgage, especially as interest rates have been increasing dramatically over the last few years. The interest rate will be based on the amount that you are borrowing compared with your deposit amount (Loan to Value or ‘LTV’). As an example, the table below shows how rates can vary based on the fixed rate deal that you choose.
Example mortgage rates – Santander (£100,000 over 25 years)
| Property value | Deposit | Mortgage term | Interest rate/repayment |
|---|---|---|---|
| £100,000 (5 year fixed rate) | £10,000 | 25 years | 5.1% interest £531 per month |
| £100,000 (3 year fixed rate) New build mortgage only | £10,000 | 25 years | 5.4% interest £548 per month |
| £100,000 (2 year fixed rate) | £10,000 | 25 years | 5.62% interest £559 per month |
The main things to be aware of with Santander mortgages are:
- You can apply for a mortgage as an individual or with up to 3 other people. Only 2 people’s income will be assessed, even if 4 people are named on the application.
- You must be at least 18 years old to apply for a Santander mortgage and your mortgage must be repaid by either your 75th birthday (repayment mortgage) or 70th birthday (interest only mortgage).
- Santander is well-known for its range of buy to let mortgages, which might be a good option if you are a landlord or investor.
- Fixed rate mortgage holders may need to pay early repayment charges If they either repay more than 10% of their mortgage within one year or they leave the mortgage deal early.
- Standard Variable Rate and tracker rate mortgage customers can overpay their mortgage with no extra charges.
- You need to budget for fees such as product fees (varies), valuation fees (£180), and completion fees (£225 per mortgage). Product fees can be paid upfront or added the overall cost of your mortgage.
- Santander will accept savings accounts, gifted deposits, and inheritance as a deposit for your mortgage. They may accept loans as a deposit under specific circumstances.
Is it hard to get a mortgage with Santander?
It’s fairly simple to apply for a Santander mortgage, but some borrowers will find it easier to get their mortgage approved than others.
As with most lenders, having a good credit score will make it much easier to get a Santander mortgage approved. It can also be harder (though not impossible) for self-employed workers to get a mortgage with Santander.
If you have applied for a Santander mortgage and been declined, the main thing to remember is not to rush into another application straight away. Multiple mortgage applications will mean multiple credit checks, which is likely to negatively affect your credit score.
It’s better to take your time and assess if another lender might be more likely to approve your application. Most people don’t realise that they can ask a lender why their application was denied, which can help you to understand any areas that need to be addressed (e.g. improving your credit score).
How much can I borrow with Santander?
If you apply for a Santander mortgage, you can borrow up to £3,000,000 at most. Not everyone will be able to borrow this amount though, and you would need a deposit of at least 25% of the property value for this to be possible.
If you want to borrow less than this, the exact amount that you can borrow will be based on things like your deposit amount, credit history, and even your job role. The simplest way to work out how much you can borrow is to use an online mortgage calculator like our MPO mortgage calculator. There is also a mortgage calculator on Santander’s website, and there are a variety of options on other sites too such as MoneyHelper.
Most mortgage calculators will ask similar questions, and the Santander mortgage calculator asks:
- How many applicants are applying for this mortgage (if more than 2 you will need to call and speak to an advisor at 0800 068 6064).
- If you have any dependents (e.g. children or people you are financially responsible for such as parents).
- Your annual income before tax (this includes any allowances for things such as company cars, pension income if retired etc).
- If you have any other regular income (e.g. commission, bonuses, or benefits).
- Your outgoing expenses e.g. debts, car finance, credit cards, school fees.
- How much deposit you have saved and how long you would like your mortgage term to be.
This will give you an instant estimate of how much you might be able to borrow, as well as the option to look at available mortgage deals or go straight into applying for a decision in principle.
Note: As of 2023, the highest you can borrow with Santander is 5.5 times your annual salary at most (with £100,000 or more income and a deposit of at least 25% of the property value).
How long does a mortgage approval take with Santander?
It will normally take around 3 weeks for Santander to fully process your mortgage application. This is because Santander’s team will need to assess if you will be able to repay your mortgage based on your usual income and outgoing expenses (e.g. car finance, credit card payments).
It can take as little as 9 working days on average for Santander to process and approve a mortgage application, but this can vary depending on the individual application and mortgage type. Be prepared that you may need to wait longer than this to hear about your mortgage, particularly if you are applying for a more specialist mortgage like a buy to let.
What does Santander look at before approving your mortgage?
| Lending criteria | Description |
|---|---|
| What will Santander accept for my deposit? | Savings account (Help to Buy: ISAs are accepted for first time buyers): you may need to provide proof of deposit in the form of a savings book or bank statement. Gifted deposit: accepted unless they are vendor gifted, protected by a trust or the person providing the deposit has a vested interest in the property or will also be living there Loans: will be accepted in some circumstances, but you will need to provide details such as the loan amount, the lender and the loan terms. Inheritance: should be classed as savings, will need a letter from the executor/solicitor of the estate and a bank statement showing the money going into your account Equity from the sale of another property will be accepted |
| Can I get a joint mortgage? | YES – Up to 4 people can apply for a joint Santander mortgage. |
| Are there age limits for Santander mortgages? | Minimum age 18 years. Maximum age will depend on the mortgage term. Mortgage must be repaid by the applicants 75th birthday for repayment mortgages and 70th birthday for interest only (the older applicant if a joint mortgage). |
| Will Santander approve mortgages for foreign nationals? | YES – Santander will consider applications from foreign nationals if the mortgage is intended for their own use. They must have permanent right to reside in the UK and must have 3 months bank statements and one of either: A visa stamp in a passport (can be an expired passport) An unexpired Biometric Residence permit A share code so Santander can check the status of EEA or Swiss citizens |
| Does Santander offer poor credit mortgages? | Santander will decline your mortgage application if you have: Had a property repossessed by a mortgage lender Been bankrupt or have an individual voluntary agreement (IVA) in your credit history A very low credit score |
| Can someone living abroad apply for a Santander mortgage in the UK? | As of January 2021, Santander no longer accepts mortgage applications from people living abroad. |
How do I contact Santander about my mortgage?
Large companies like Santander have a lot of different contact numbers listed, which can make it harder to know which one to ring for each department. We have put together the below list to make things a bit more straightforward for you.
Santander mortgage contact number for current mortgages
If you need to change your mortgage, accept a mortgage deal, borrow more money or arrange to repay your mortgage early:
Tel. 0800 092 3881
Opening hours: Monday to Friday 9am-6pm / Saturday 9am-2pm (excludes Bank Holidays)
If you want to speak about managing your mortgage online
Tel. 0800 783 9738
Opening hours: Monday to Friday 8am-6pm / Saturday 9am-2pm (excludes Bank Holidays)
Santander mortgage telephone number for new mortgages
Tel. 0800 068 6064
Opening hours: Monday to Friday 9am-7pm / Saturday 9am-2pm (excludes Bank Holidays)
Note: You also have the option of speaking to a Santander colleague via online live chat on their website if you would prefer not to speak on the phone or don’t have time to call.
What should I do if I’m struggling with Santander mortgage repayments?
It’s been a worrying few years for UK homeowners and drastic increases in mortgage rates have been a concern for millions of individuals and families. If your mortgage repayments have increased and you’re struggling to repay, Santander has a few options that can help you.
Santander’s website states that they are proud to support the government’s Mortgage Charter, which is a set of standards that has designed to protect consumers. Because of the Charter, Santander now provides support for at least 1 year following a missed mortgage payment* before considering repossessing your home. It’s also noted that even then repossession is only considered in ‘exceptional circumstances’.
Other support options include:
- Help with switching to a new mortgage deal without new affordability checks (within 4 months before the end of a fixed rate mortgage deal).
- A dedicated cost-of-living support page containing links to resources like budget calculators to help you manage your finances. Santander also links to Turn2us’ helpful benefits calculator which can tell you if you are entitled to any benefits that you aren’t currently claiming.
Their ‘Mortgage Support’ page includes full details about what to do if you think you might miss a mortgage payment or you are already behind with paying (in arrears).
Visit Santander’s Mortgage Support page – CLICK HERE
Note: *This only applies to your first missed mortgage payment with Santander.
What is the 6 month rule with Santander mortgages?
If you’re finding it hard to repay your mortgage, Santander will allow you to switch to an interest only mortgage for up to 6 months. This should ideally lower the cost of repayments enough to help you get back on track financially.
Another option is that Santander will allow you to extend your mortgage term (e.g. increase from 10 years to 20 years). This should also make your montly repayments lower, though it’s important not to rush into this. You would be agreeing to repay for a longer time, and would repay more overall due to the interest.
How do I apply for a Santander mortgage?
It isn’t always easy to know where to start with a mortgage application, even if you have applied for a mortgage before. It can be particularly tricky for first time buyers who may not know where to start. There are several ways you can start a mortgage application with Santander:
- Speaking to Santander directly, online, in a branch, or over the phone.
- Apply with support and advice from an independent mortgage advisor.
An independent mortgage broker can help advise you about which mortgages Santander offers and whether they seem suitable for what you need. They will compare available rates and deals to help you and your family to save money on your mortgage repayments this year.
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