Unfortunately, this deal is no longer valid
Santander mortgage 1.59% 2 year fix - fee free
1549° Expired

Santander mortgage 1.59% 2 year fix - fee free

110
Posted 16th Oct 2019

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

Very competitive rate for a fee free 2 year fix.

Max LTV 60%

Better rates are available with fees, but very often they work out more expensive over 2 years, once you add the fees on.

I don't know whether cashback might be available from somewhere, i haven't checked.

Application Fee:£0
Product Fee:£0
Valuation fee:£0
Other Fees:£0

FLEXIBILITY:

Overpayments allowed?Yes

Early repayment charge:£200, plus 3% until 02-11-21, 3% until 02-01-22, plus Benefit repayable until 2-11-2021


OTHER PRODUCT INFO:
Maximum LTV 60%
Subsequent Rate:4.00%

New remortgage example details:

Mortgage amount:£105,000
Deposit:£135,000
property value:£240,000
Mortgage term (years):15 years
Monthly payment: £656
Initial Rate:1.59%
Initial Rate period:Free Legals + Val Fixed till 02-01-22
Repayment method:Capital repayment
LTV:44%
Community Updates
Three issues ...

Firstly, it's only for loyal Santander customers...

Secondly, the minimum LTV is 50%

Thirdly, legal fees and survey costs are payable by the client.

Cold from me.

Kindest regards
Santander Deals
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Top comments
Common.Sense16/10/2019 09:12

But it's Santander. The worst bank out.Yet again, they blocked my account …But it's Santander. The worst bank out.Yet again, they blocked my account without stating why.They refused my cheques and insist I come in branch.No attempt to call, pass security each time and no reason given.


Strange I have not had any issues. I have been with them for last three years.
Common.Sense16/10/2019 09:36

This is the 3rd issue with Santander. I always take them to the Ombudsman …This is the 3rd issue with Santander. I always take them to the Ombudsman and they lose.They have to pay the Ombudsman around £600 for each complaint.The Ombudsman now has a 6 month backlog.When they block, one claims 8% interest above base rate (as one would get in a court).


In a way that sounds like a good deal. I may switch to Santandar. You should post it as a deal.
But it's Santander. The worst bank out.

Yet again, they blocked my account without stating why.
They refused my cheques and insist I come in branch.
No attempt to call, pass security each time and no reason given.
Common.Sense16/10/2019 09:12

But it's Santander. The worst bank out.Yet again, they blocked my account …But it's Santander. The worst bank out.Yet again, they blocked my account without stating why.They refused my cheques and insist I come in branch.No attempt to call, pass security each time and no reason given.


This is the funniest post I've ever read. Anyone who has worked in financial services will know why.
110 Comments
Showing 1.69% for me unfortunately, current fixed rate of same 1.69% expiring in November with Santander
38676229.jpg
Edited by: "sali6454" 16th Oct 2019
Yes, cashback is available if you use one of their 1-2-3 accounts to repay the mortgage. The cashback is 1%
sali645416/10/2019 07:36

Showing 1.69% for me unfortunately, current fixed rate of same 1.69% …Showing 1.69% for me unfortunately, current fixed rate of same 1.69% expiring in November with Santander[Image]


Different offers for now and existing customers
Try remortgagecashback.co.uk for more kickback. Unlike TCB you don't have to worry about tracking codes
Good rate and no fee...How mortgages should be
Great deal!
But it's Santander. The worst bank out.

Yet again, they blocked my account without stating why.
They refused my cheques and insist I come in branch.
No attempt to call, pass security each time and no reason given.
Common.Sense16/10/2019 09:12

But it's Santander. The worst bank out.Yet again, they blocked my account …But it's Santander. The worst bank out.Yet again, they blocked my account without stating why.They refused my cheques and insist I come in branch.No attempt to call, pass security each time and no reason given.


Strange I have not had any issues. I have been with them for last three years.
pritamrp16/10/2019 09:29

Strange I have not had any issues. I have been with them for last three …Strange I have not had any issues. I have been with them for last three years.


This is the 3rd issue with Santander. I always take them to the Ombudsman and they lose.
They have to pay the Ombudsman around £600 for each complaint.
The Ombudsman now has a 6 month backlog.

When they block, one claims 8% interest above base rate (as one would get in a court).
Not bad, voted hot!
mtcerio16/10/2019 07:42

Yes, cashback is available if you use one of their 1-2-3 accounts to repay …Yes, cashback is available if you use one of their 1-2-3 accounts to repay the mortgage. The cashback is 1%


Keep in mind this is only for the first £1000 that you pay so the maximum cash back is just £10
sali645416/10/2019 07:36

Showing 1.69% for me unfortunately, current fixed rate of same 1.69% …Showing 1.69% for me unfortunately, current fixed rate of same 1.69% expiring in November with Santander[Image]


Shows as the lower rate for me, could be to do with LTV?
38677739-O1JUt.jpg
fastcarmaniac16/10/2019 11:10

Shows as the lower rate for me, could be to do with LTV?[Image]


My LTV is 42%
fastcarmaniac16/10/2019 11:10

Shows as the lower rate for me, could be to do with LTV?[Image]


Are you existing mortgage holder with Santander ?
Existing customers rates and new customer dates will differ.

I have a santander mortgage on a property with consent to let. They offered me a 2 year fixed rate at renewal with no fees at 1.99% which I took. This was a BTL rate.
Edited by: "ses6jwg" 16th Oct 2019
Common.Sense16/10/2019 09:36

This is the 3rd issue with Santander. I always take them to the Ombudsman …This is the 3rd issue with Santander. I always take them to the Ombudsman and they lose.They have to pay the Ombudsman around £600 for each complaint.The Ombudsman now has a 6 month backlog.When they block, one claims 8% interest above base rate (as one would get in a court).


In a way that sounds like a good deal. I may switch to Santandar. You should post it as a deal.
Confrimed with them on the phone this is a new customer only offer.
52% LTV here and was offerred 1.69% no fee or 1.39% with a £999 fee
sali645416/10/2019 11:16

Are you existing mortgage holder with Santander ?


Nope, I’m currently with nationwide, my LTV was calculated at 38%
fastcarmaniac16/10/2019 13:28

Nope, I’m currently with nationwide, my LTV was calculated at 38%


Yeah that's why, the rate is for new customers
I’d suggest changing to nationwide, they give the best rates to existing customers only!
J113516/10/2019 13:14

Confrimed with them on the phone this is a new customer only offer.52% LTV …Confrimed with them on the phone this is a new customer only offer.52% LTV here and was offerred 1.69% no fee or 1.39% with a £999 fee


Which deals work out better? :/
Common.Sense16/10/2019 09:36

This is the 3rd issue with Santander. I always take them to the Ombudsman …This is the 3rd issue with Santander. I always take them to the Ombudsman and they lose.They have to pay the Ombudsman around £600 for each complaint.The Ombudsman now has a 6 month backlog.When they block, one claims 8% interest above base rate (as one would get in a court).


I would not like to be your banker. 🤑
NickelQwerty16/10/2019 15:13

I would not like to be your banker. 🤑



They will probably close my account when they accuse me of money laundering.
HMRC did not make contact within 30 days hence this is proven not to be money laundering. Still a block on my funds!

Anyway, I have different 30 accounts!
Edited by: "Common.Sense" 16th Oct 2019
Are we sure this mortgage is fee free? MoneySuperMarket shows it as having a £225 exit fee, which you pay when you remortgage or settle. Because you don’t pay this immediately, they sometimes get away with calling it fee free.
Common.Sense16/10/2019 15:19

They will probably close my account when they accuse me of money …They will probably close my account when they accuse me of money laundering.HMRC did not make contact within 30 days hence this is proven not to be money laundering. Still a block on my funds!Anyway, I have different 30 accounts!


You personally have 30 different bank accounts?

How is that even possible? /What does that do to your credit score?

I thought having multiple accounts can be a negative?

I am very interested as to why you need so many different accounts? Are you a member of an espionage agency.
NickelQwerty16/10/2019 15:55

You personally have 30 different bank accounts?How is that even possible? …You personally have 30 different bank accounts?How is that even possible? /What does that do to your credit score? I thought having multiple accounts can be a negative?I am very interested as to why you need so many different accounts? Are you a member of an espionage agency.



Protection is only £85k per account or double with a joint account.
Also incentives of high interest rates up to £20k Santander, Lloyds 3K + free cinema tickets etc.
Transfer from A to B and B to C and back to A.... except I use a web!
Credit rating high as no debts. Why do I care about credit rating? I do not have any loans.
It did drop when o2 trashed it when I paid off my device and cancelled a contract. They attempted to charge me a full year.
Ombudsman found against them. I had to get a 33% interest credit card for 0% foreign transactions. I do not care as I always pay in full. Amex charges a conversion fee.
Edited by: "Common.Sense" 16th Oct 2019
Common.Sense16/10/2019 16:06

Protection is only £85k per account or double with a joint account.Also …Protection is only £85k per account or double with a joint account.Also incentives of high interest rates up to £20k Santander, Lloyds 3K + free cinema tickets etc.Transfer from A to B and B to C and back to A.... except I use a web!Credit rating high as no debts. Why do I care about credit rating? I do not have any loans.It did drop when o2 trashed it when I paid off my device and cancelled a contract. They attempted to charge me a full year.Ombudsman found against them. I had to get a 33% interest credit card for 0% foreign transactions. I do not care as I always pay in full. Amex charges a conversion fee.


I suspect your unique situation is triggering some automated money laundering checks. Lots of banks are implementing these solutions to meet banking regulations. Should not affect vast majority of customers.
pritamrp16/10/2019 16:21

I suspect your unique situation is triggering some automated money …I suspect your unique situation is triggering some automated money laundering checks. Lots of banks are implementing these solutions to meet banking regulations. Should not affect vast majority of customers.



No, as if it were HMRC would be involved by now. If Santander suspect money laundering, it has to inform HMRC and then HMRC has 30 days to investigate. It then tells Santander to release any block else HMRC would contact me.

Funds come from UK FCA regulated banks. Eg Bank of London and Middle East sent a matured deposit to Santander.
I asked to transfer back for another fixed deposit and they blocked my account for 3 months after I said their branches provide a poor service and are so slow to do anything. I claim 8% above base rate compensation. I told them to come to my house if they was to verify my address and identification! They refuse.
Common.Sense16/10/2019 16:06

Protection is only £85k per account or double with a joint account.Also …Protection is only £85k per account or double with a joint account.Also incentives of high interest rates up to £20k Santander, Lloyds 3K + free cinema tickets etc.Transfer from A to B and B to C and back to A.... except I use a web!Credit rating high as no debts. Why do I care about credit rating? I do not have any loans.It did drop when o2 trashed it when I paid off my device and cancelled a contract. They attempted to charge me a full year.Ombudsman found against them. I had to get a 33% interest credit card for 0% foreign transactions. I do not care as I always pay in full. Amex charges a conversion fee.


I see what you are saying about the FCSS - Financial Services Compensation Scheme limit, I guess they only class the first 85k per "instituion" and not per account, so it would make sense to spread money around.

I hope you do not have multiple accounts with the same banking institutions totalling more than 85k as I am sure you are aware that would not be covered, I have not read in depth into what the FCSS or the banking groups class as institutions as I am not in your unique position of being as rich as SimonCowel,
Just make sure that some of the banks you are using for accounts are not sharing the same FCSS institute license such as the BOS and Halifax piggybacking off the same license.

You are in a unique position Mr/s common sense, my friend also used to send money around to different accounts to make the most of savings incentives/perks but in the end he went for a mortgage and all those accounts had a detremental effect on his credit score.

You seem to know how it all works (this banking game)
But in fairness I can see why Santander may find your banking transactions a little suspicious, you sound like you conduct more financial transactions than the Prince of Zimbabwe.

Have a good day mate
cb361116/10/2019 15:50

Are we sure this mortgage is fee free? MoneySuperMarket shows it as …Are we sure this mortgage is fee free? MoneySuperMarket shows it as having a £225 exit fee, which you pay when you remortgage or settle. Because you don’t pay this immediately, they sometimes get away with calling it fee free.


Correct. And significantly higher than other lenders. Almost wipes out any gain you make with the 123 cash back.
NickelQwerty16/10/2019 16:49

I see what you are saying about the FCSS - Financial Services …I see what you are saying about the FCSS - Financial Services Compensation Scheme limit, I guess they only class the first 85k per "instituion" and not per account, so it would make sense to spread money around.I hope you do not have multiple accounts with the same banking institutions totalling more than 85k as I am sure you are aware that would not be covered, I have not read in depth into what the FCSS or the banking groups class as institutions as I am not in your unique position of being as rich as SimonCowel, Just make sure that some of the banks you are using for accounts are not sharing the same FCSS institute license such as the BOS and Halifax piggybacking off the same license.You are in a unique position Mr/s common sense, my friend also used to send money around to different accounts to make the most of savings incentives/perks but in the end he went for a mortgage and all those accounts had a detremental effect on his credit score.You seem to know how it all works (this banking game)But in fairness I can see why Santander may find your banking transactions a little suspicious, you sound like you conduct more financial transactions than the Prince of Zimbabwe.Have a good day mate



No, one transaction only. They took issue at me saying their branches were so inefficient and try to force me to go in branch.
Simon Cowell is rich. I am not!
Currently 1.65 for a 5 year fix... well worth it for the extra security imo. That said I can’t see interest rates “normalising” in my lifetime
Wow way better than my Halifax rate renewal;(
jp201616/10/2019 19:29

Comment deleted



Are you sure? I was told each has a monthly allowance (I think 25) and then are charged for every other case (£550).
They Ombudsman is so useless they have a 6 month backlog. Complaints are at a record high.

High street banks: £300,000 a year plus per case.

The case becomes chargeable whatever the outcome.
financial-ombudsman.org.uk/fil…pdf

So, play the game. They will pay £550 plus their time.
Edited by: "Common.Sense" 16th Oct 2019
Three issues ...

Firstly, it's only for loyal Santander customers...

Secondly, the minimum LTV is 50%

Thirdly, legal fees and survey costs are payable by the client.

Cold from me.

Kindest regards
bobcoyle7716/10/2019 08:05

Try remortgagecashback.co.uk for more kickback. Unlike TCB you don't have …Try remortgagecashback.co.uk for more kickback. Unlike TCB you don't have to worry about tracking codes


Tried this a few months ago, worked a treat. The usual cashback websites can be a pain in the backside if they don’t track immediately
got the same ratewith natwest fixed over 5 years with £250 cashback and a free survey on a £363k borrow. better bank and better deal.
Nice helpfull info everyone thanks
chridt16/10/2019 09:07

Good rate and no fee...How mortgages should be Great deal!



at the expense of savers whos money they are lending to low rate mortgage customers!
Common.Sense16/10/2019 16:28

No, as if it were HMRC would be involved by now. If Santander suspect …No, as if it were HMRC would be involved by now. If Santander suspect money laundering, it has to inform HMRC and then HMRC has 30 days to investigate. It then tells Santander to release any block else HMRC would contact me.Funds come from UK FCA regulated banks. Eg Bank of London and Middle East sent a matured deposit to Santander.I asked to transfer back for another fixed deposit and they blocked my account for 3 months after I said their branches provide a poor service and are so slow to do anything. I claim 8% above base rate compensation. I told them to come to my house if they was to verify my address and identification! They refuse.


Money-laundering is nothing to do with HMRC - if a bank suspects something's amiss, they report to NCA (National Crime Agency).

Your personal predicament with all those bank accounts is 100% the reason you have issues. It just sounds dodge so they have to consider / report it. I'm not saying it is dodge - I get where you are coming from, though you clearly have more time on your hands than most - just that it sounds dodge, and that's what causes problems.
Would sooner not fund those stupid ant&dec ads
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