Page 1 of 2 Mortgages – Information Call in to any Santander branch Call us on 0800 587 6742 Your options if you’re an existing Santander mortgage customer moving home As an existing customer, when moving home you have two options regarding your mortgage with us: 1. You can apply to take your current mortgage with you 2. You can choose a new deal from our current mortgage range Our expert Mortgage Advisers will listen to your needs, provide you with advice and recommend the right mortgage for you. What are my options Take your current mortgage with you Choose a new deal You can apply to transfer your current mortgage deal to your new home. By doing this you keep the same interest rate. This is known as ‘porting’. If you don’t want to take your current deal with you, you can choose a new deal for the total amount you want to borrow from our range, including exclusive mortgage deals for existing customers moving home. Restrictions may apply, subject to status and our lending policy at the time of application. Benefits ■ It could save you money if your current interest rate is lower than other mortgage rates currently available. ■ You won’t pay an Early Repayment Charge (ERC) if you ‘port’ the same amount. ■ It could save you money if your existing rate is higher than our current mortgage rates. ■ You won’t pay an Early Repayment Charge if you have less than six months left on your existing deal when you apply for a new mortgage for at least the same amount. In future we may withdraw this offer. Page 2 of 2 Mortgages – Information Take your current mortgage with you Choose a new deal If you need to borrow more money, you’ll need to apply to ‘port’ all of your current balance and choose a new deal for the extra amount you want to borrow from our current mortgage range, which includes exclusive deals. You will need to consider any fees that may apply, whether you want to pay them upfront or add them to your mortgage. If you choose to add any fees to your mortgage, this will incur additional interest over the term of your mortgage. If you want to borrow less money, you will have to pay an ERC on the amount you pay off, if an ERC applies to your existing mortgage. If you want to borrow less money, you will have to pay an ERC on the amount you pay off if an ERC applies, regardless of how long you have left on your existing mortgage deal. If you can’t complete on your new home on the same day as you pay off your existing mortgage (known as non-simultaneous completion) you will have to pay an ERC if one applies to your mortgage. Considerations However, as long as you complete on your new home within three months of paying off your old mortgage we will refund this ERC. To get your refund you need to contact us on 0845 6000 346 once your new mortgage has completed. If you have more than six months left on your existing deal when you apply for your new mortgage, you will need to pay an ERC if one applies to your mortgage, regardless of how much you are borrowing. If it takes longer than three months to complete on your new home, you won’t be able to ‘port’ your existing interest rate. We can’t ‘port’ your existing mortgage deal if your new home is already owned by you. If any fees apply you can either pay them upfront or choose to add them to your mortgage. If you choose to add any fees to your mortgage, this will incur additional interest over the term of your mortgage. What to do next To discuss your options, ask any further questions or book an appointment when you are ready to apply you can speak to one of our Mortgage Advisers either in branch or by calling us on 0800 587 6742. During your mortgage appointment, you’ll be asked some important questions about you, your needs, your circumstances and your finances so we can complete a full assessment of your income and outgoings. This enables us to confirm how much we can lend to you and confirm that it is affordable. MORT 0865 MAY 14 HT YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Santander UK plc. Registered Office: 2 Triton Square, Regent’s Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. www.santander.co.uk. Telephone 0870 607 6000. 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. Santander UK plc is also licensed by the Financial Supervision Commission of the Isle of Man for its branch in the Isle of Man. Deposits held with the Isle of Man branch are covered by the Isle of Man Depositors’ Compensation Scheme as set out in the Isle of Man Depositors’ Compensation Scheme Regulations 2010. In the Isle of Man, Santander UK plc’s principal place of business is at 19/21 Prospect Hill, Douglas, Isle of Man, IM1 1ET. Santander and the flame logo are registered trademarks.
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