Unfortunately, this deal is no longer available
Santander 5 year fix mortgage deal 1.49% 60% LTV - £999 product fee
1469° Expired

Santander 5 year fix mortgage deal 1.49% 60% LTV - £999 product fee

121
Posted 22nd Oct 2019

This deal is expired. Here are some options that might interest you:

5 year fixed rate

Monthly cost
£717
Initial rate
1.49%
Product fee
£999
Overall cost for comparison (APRC)
2.8%
Changing to our
Follow-on Rate
4.00%
Maximum loan to value
60%
Differential to Bank of England base rate
n/a
Early repayment charge (ERC)
5% + Repay paid legal fees
Includes: Free valuation and standard legal fees paid
Community Updates
Annual over payment allowance - 10%

If you have one of Santander's 123 accounts you also get 1% cashback on the first £1,000 of your monthly mortgage payment (presuming your payment comes out of the 123 account).

So that's a potential £120 yearly cashback.

Note - Product fee means this benefits those with over larger remortgages, otherwise £0 fee, higher %age fixes will be better.

Lock in rate : 4 months in advance.
Santander Deals
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Top comments
awms22/10/2019 14:49

No problems with mine, seemless.


Here too.

There's always one person who doesn't follow the rules, gets docked, and then suggests that everyone should avoid the company because of this one instance of customer at fault.
Edited by: "chamelion" 22nd Oct 2019
Getting a mortgage with Santander is a nightmare!
They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.

After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.

My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!
hanif24822/10/2019 16:25

*sigh*Why did I lock in for 5 years before the Brexit vote.


Security and piece of mind - you made the right choice. Rates could've gone up.
No problems with mine, seemless.
richardwak22/10/2019 11:42

Getting a mortgage with Santander is a nightmare!They outsource the legal …Getting a mortgage with Santander is a nightmare!They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!

121 Comments
Was looking for the best deal on the market for 5 years fixed and noticed santander has reduced and probably best deal at 1.49%

santander.co.uk/per…tor

Monthly cost
£717
Initial rate
1.49%
Product fee
£999
Overall cost for comparison (APRC)
2.8%
Changing to our
Follow-on Rate
4.00%
Maximum loan to value
60%
Differential to Bank of England base rate
n/a
Early repayment charge (ERC)
5% + Repay paid legal fees
New customers only I think
Feckkkkkkkkkkkkkkkkkkkkkk
Whats better 1.99% with no fee or 1.49% with £999 fee on 80k
saq1722/10/2019 11:32

Whats better 1.99% with no fee or 1.49% with £999 fee on 80k


Agreed. I'm sure the bank will never advise when taking the product. I suppose placing these deals should stipulate the limits of benefiting from such a product.
Wow! Probably the best deal I have ever seen on this site for anything.
Last time I saw one on here it was new customers only, need to be logged into santander site to see offers that can be applied to your account
Getting a mortgage with Santander is a nightmare!
They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.

After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.

My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!
Aman22/10/2019 11:36

Agreed. I'm sure the bank will never advise when taking the product. I …Agreed. I'm sure the bank will never advise when taking the product. I suppose placing these deals should stipulate the limits of benefiting from such a product.


Mortgage advice within a branch has to be completed on an advised basis as execution only in branch is not allowed. As such the adviser will do the calculation for you. From experience I would say with those numbers that a no fee is better.
Edited by: "justinlinham" 22nd Oct 2019
Thanks OP, am in the market for a 75% LTV and your deal prompted me to recheck the rates on 75%, which have also dropped!
hotukdeals.com/dea…165
No problems with mine, seemless.
richardwak22/10/2019 11:42

Getting a mortgage with Santander is a nightmare!They outsource the legal …Getting a mortgage with Santander is a nightmare!They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!

awms22/10/2019 14:49

No problems with mine, seemless.


Here too.

There's always one person who doesn't follow the rules, gets docked, and then suggests that everyone should avoid the company because of this one instance of customer at fault.
Edited by: "chamelion" 22nd Oct 2019
If you already have a Santander mortgage and switch to this, presumably there'll be an early repayment fee?
Make sure and look at cashback too, I used remortgagecashback.co.uk as they do the mortgage work for you too. Yes I’m a lazy so and so
*sigh*

Why did I lock in for 5 years before the Brexit vote.
Deal sounds good but my experience with the back it self is pretty poor. Lady in the branch didn’t have a clue what she was doing and that gave me no confidence. So went to Natwest, good customer service but I am paying more.
Actually cheaper than my tracker taken out just before the crash in 2008. The fees though will negate the gains that can be made though.
saq1722/10/2019 11:32

Whats better 1.99% with no fee or 1.49% with £999 fee on 80k


IGNORE THIS, I WAS WRONG
Edited by: "lanc1979" 22nd Oct 2019
hanif24822/10/2019 16:25

*sigh*Why did I lock in for 5 years before the Brexit vote.


Security and piece of mind - you made the right choice. Rates could've gone up.
richardwak22/10/2019 11:42

Getting a mortgage with Santander is a nightmare!They outsource the legal …Getting a mortgage with Santander is a nightmare!They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!


This is painfully true. I had the exact same problem on my remortgage to Santander. All sorted now, but took about 4 months with so many screw ups along the way. I had to chase them constantly.
richardwak22/10/2019 11:42

Getting a mortgage with Santander is a nightmare!They outsource the legal …Getting a mortgage with Santander is a nightmare!They outsource the legal aspect who in turn outsource part of it themselves, meaning each company keep saying they haven't received documents you sent.After constantly resending forms for 6 weeks they then declined my mortgage due to undeclared payments, I asked for details as I declared everything but they wouldn't tell me.... Took a Nat West one instead and moved 3 weeks later.My in-laws chain recently broke down too due to someone else having delays with a Santander mortgage, my mortgage broker said this is well known with Santander - in other words don't take a Santander mortgage if you want a quick hassle free move!!


Can’t comment on your experience but our Santander mortgage was quick and hassle free. I would reuse them.
saq1722/10/2019 11:32

Whats better 1.99% with no fee or 1.49% with £999 fee on 80k


With fee at 1.49 you would pay £320 and with 1.99 no fee you will pay £339 so £19 extra a month over 5 years will mean £1140 so taking out the fee option would save you £141
Definitely get a broker to check the deal. MortgageGenie are really good (and on topcashback).
This Santander deal has a £250 account closure fee - which means it's not the best 5 year fix for me.
hanif24822/10/2019 16:25

*sigh*Why did I lock in for 5 years before the Brexit vote.


Isn't Brexit supposed to be killing the housing market and the cost of borrowing is gonna be astronomical? If you listened to the media what you've done is correct.

Back in the real world, banks are offering crazy low borrowing rates which means further cuts in interest rates is probably on the cards.

I can't work out if the global economy is on a knife edge or whether they are intending to kick the can down the road with more QE or something else.
Don not use a broker. Waste of money.
I hate you all
I got 5yrs fixed with that damn halifax at 2.64%
Next renewal I'm definitely going to leave them
jp201622/10/2019 17:43

Comment deleted


Absolute rubbish....did a broker (salesman) tell you that?!
Any deal a broker offers can be had by going direct.....
hanif24822/10/2019 16:25

*sigh*Why did I lock in for 5 years before the Brexit vote.


Rate could have gone up so you would be happy.
jp201622/10/2019 17:55

Comment deleted


Just because you say it doesn’t make it true.......
I’d advise anyone to approach a lender direct with any “special broker only” deal and I 100% guarantee the lender will offer it direct even if it’s not openly advertised.
People need to wise up to salesman...sorry brokers
Edited by: "chridt" 22nd Oct 2019
jp201622/10/2019 17:58

Comment deleted


I've successfully used them too - 3 years and I'm finally free of mortgages
I've been using Chris Gamlin's rather nifty spreadsheet for years: locostfireblade.co.uk/spr…tml


(I will accept mine calculation was wrong, I wrote it while having a crap and got it wrong )
OP wouldn't be better off if he had the average mortgage payment of around £669, which puts him on an 11 year term - best being fee free after that.
jp201622/10/2019 18:00

Comment deleted


Proved how?
Because you said you were?
Poor deal - look at the ERP charge 5% wow!!! If you need to pay off your mortgage early for whatever reason it’s seriously going to cost you even if it’s in the last few months on year 5 of the mortgage deal !
youngrobbo22/10/2019 16:34

Actually cheaper than my tracker taken out just before the crash in 2008. …Actually cheaper than my tracker taken out just before the crash in 2008. The fees though will negate the gains that can be made though.


Go via moneysupermarket or other comparison sites if it's for a remortgage it's similar mortgage rate with no fees if you scroll down and choose no fees there couple of other lenders with similar rates.
hanif24822/10/2019 16:25

*sigh*Why did I lock in for 5 years before the Brexit vote.


Also you didn't know the result, else you could've chucked your mortgage betting on Leave, which was 10/1 to win at one point
Beat me to it... been trying to move house for a while.. looks like the end is in sight.

Our moronic buyer and their dithering has meant the rate we originally signed up for at 1.79 then fell to 1.65 and now 1.49. Every cloud!
jp201622/10/2019 17:55

Comment deleted


Correct and some brokers have more rates then others best shop around, some online brokers offer cashback with no fees so better than going directly but again no always will be the case.
How can it say monthly mortgage of £717 if it doesn't know how much your borrowing?
jp201622/10/2019 18:15

Comment deleted


Not on this mortgage by the looks of it - it’s 5% ERC for every year of the deal, not 5,4,3,2,1 as other mortgage providers normally do it
Worse bank ever
saq1722/10/2019 11:32

Whats better 1.99% with no fee or 1.49% with £999 fee on 80k


Isn't there 1.74% deal with no fees I was checking looked like there was that would be better for you us it a remortgage.
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