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Santander mortgage review

We've combined expert analysis with customer feedback to help you decide whether to get a mortgage with Santander bank.

In this article
Coronavirus (COVID-19) update Santander mortgage customer ratings What kinds of mortgages does Santander offer? Does Santander offer the best mortgage deals? Interest rates on Santander mortgages How much could I borrow from Santander?
Can I make overpayments? How can I contact Santander? Santander mortgage eligibility Does Santander offer any customer incentives? What Santander’s mortgage customers say

Coronavirus (COVID-19) update

Santander are temporarily limiting new mortgage applications from customers looking to purchase or remortgage to 75% of the property's value, up to £350,000.

The lender is also no longer accepting new mortgage applications for buy-to-let, new build, help to buy, shared ownership and right to buy properties.

Santander mortgage customer ratings

Santander review
Which? Customer Score
Joint 10th out of 25 mortgage lenders
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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£5 for first month then £9.99/month unless cancelled

The table below shows how Santander performed in our latest mortgage satisfaction survey, from application process to value for money.

Customer rating for: Star rating
Customer service

3 out of 5

Application process

4 out of 5

Value for money

4 out of 5

Keeping you well informed

4 out of 5

Clarity of statements

4 out of 5

Transparency of charges

3 out of 5

Query and complaint handling

3 out of 5

Ability to overpay or underpay mortgage

3 out of 5

Online access

3 out of 5


Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 398 people told us they had their mortgage with Santander.

What kinds of mortgages does Santander offer?

When we checked in September 2019, there were around 140 mortgages available from Santander. Most were fixed-rate deals lasting two, three, five and 10 years.

Santander also offered tracker deals for either two years or the entire mortgage term.

Does Santander offer the best mortgage deals?

Which? analysis has found that Santander offers twice as many cheap mortgages than the average lender.

In order to work this out, our experts analysed thousands of mortgages over a four-week period in August 2019. They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 15, and Santander featured 30 times. (Data source: Moneyfacts.)



Interest rates on Santander mortgages

When we checked in September 2019, most mortgages from Santander were fixed-rate deals, meaning your interest rate is guaranteed to stay the same for a set number of years.

The average interest rate on a two-year fixed-rate deal from Santander was 1.78%, which is lower than the industry average of 2.77%.

And when we asked Santander mortgage customers in June 2019 about the interest rate they were paying, two in five told us they were currently paying between 1% and 1.99%.

Santander's Follow-on Rate

If you take out a mortgage with Santander now (or have done so since 23 January 2018), you’ll be eligible for the ‘Follow-on Rate’ (FoR) when your introductory rate ends.

The FoR is a variable rate that tracks the Bank of England base rate. This means that when the base rate changes, so will the FoR. This differs from a standard variable rate (SVR), which isn’t directly linked to the base rate.

How much could I borrow from Santander?

Based on the property's value

Below we’ve outlined how much you could borrow from Santander in relation to the percentage of the property’s value.

Maximum loan amount Maximum loan-to-value
£570,000 95% *
£1m 85%
Over £1m 75%
* 95% LTV is not available to customers who are remortgaging. The maximum loan amount for flats at 95% LTV is £380,000. For loans up to £570,000 for a flat the maximum LTV is 90%.

If you’re looking for a mortgage for a new-build property, the most you could borrow from Santander for a house is 85% of the property’s value, and 80% for a flat.

Based on your income

Your income can also determine how much you can borrow, as shown in the table below.

Combined income for all mortgage applicants Maximum you can borrow
Less than £45,000 4.45x your income
Between £45,000 and £99,999 5x your income
£100,000 or more 5.5x your income (or 5x if you’re borrowing more than 75% of the property value)

Can I make overpayments?

With a fixed-rate mortgage from Santander you can overpay up to 10% of the amount you still owe on your mortgage each year, without paying an early repayment charge (ERC).

If the interest rate on your mortgage isn’t fixed - for example, if you have a tracker mortgage - you can make unlimited overpayments without paying an ERC.

How can I contact Santander?

  • New customers can call 0800 068 6064.
  • Existing mortgage customers can call 0800 917 5630.
  • The website is

Santander mortgage eligibility

You’ll need a deposit of at least 5% of the property’s value to apply for a mortgage from Santander.

If you’ve ever been bankrupt or had a property repossessed by a mortgage lender, you won’t be able to borrow from Santander.

First-time buyers

You can’t have owned a property before to receive any offers available exclusively to first-time buyers from Santander.

If you’re applying for a mortgage specifically for first-time buyers with another person, they’ll also need to meet this criteria. Not all lenders have this rule, so it's worth talking to a mortgage broker who will be able to advise on the best lender for your situation.

Santander currently doesn’t offer guarantor mortgages.

Leasehold properties

If you’re applying for a mortgage for a leasehold property, there must be at least 30 years left when the mortgage ends, or 50 years for an interest-only mortgage.

Buy-to-let mortgages

If you’re applying for a buy-to-let mortgage from Santander, you must have an income of at least £25,000.

This can’t include income from rent on buy-to-let properties. If you’re applying with another person, at least one of you must meet this income criteria.

Does Santander offer any customer incentives?

If you’re a Santander mortgage customer and pay your mortgage from its ‘123’ current account, you can receive 1% cashback every month on £1,000 of your mortgage payment - that's up to £10 a month.

You could also benefit from exclusive rates on Santander mortgages if you have a Santander Select current account. But it’s worth remembering there could still be more competitive rates or current accounts available from other lenders.

What Santander’s mortgage customers say