About Danske Bank

Founded in Denmark in 1871, Danske Bank is a Nordic bank with a presence in 16 countries worldwide – including the UK. It currently serves 2.8 million personal and business customers and operates 277 branches.

Danske Bank mortgage deals are available to a wide range of people, but they generally won’t lend to you if you have particularly bad credit.

Some of the mortgage types on offer include first-time buyer and buy-to-let mortgages, as well as more niche solutions like self-build home loans.

We’ve reviewed some of the UK’s top mortgage lenders and measured their service, application speed and affordability. 

In this review we’ll cover:

All information on this page was up to date as of August 2019.

Is Danske Bank a good mortgage lender?

There are many ways to measure how good a lender is. We've chosen to focus on publicly available complaints data to estimate their quality of service.

We looked at Dansk Bank’s customer complaints record between July and December 2018. During this period, the Financial Conduct Authority (FCA) received 24 officially upheld complaints.(1) That’s around 0.1% of customers, which is lower than the 0.4% average across the major lenders.

How long does a Danske Bank mortgage application take?

We don’t currently have access to data on how long a Danske Bank mortgage application takes. As a general rule, the speed of application will vary depending on your own personal circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months. 

This can also be impacted by the quality of the application submitted, which is why you may want to consider using a mortgage broker. The average quoted speed therefore may not reflect your own experience.

*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.

How much could I afford to borrow from Danske Bank?

The amount you can borrow for a Danske Bank mortgage can vary and depends on your financial circumstances. You’ll find the Danske Bank mortgage calculator on their website – this will give you an estimate of how much you might be able to borrow.

Frequently asked questions (FAQs)

What types of mortgages do Danske Bank offer?

Danske Bank offers a variety of mortgage types, including the following:

Danske Bank first-time buyer mortgages

Danske Bank’s first-time buyer mortgages are designed to help people get a foot on the property ladder. Danske offers a number of incentives, such as the opportunity to get cashback on mortgages of £75,000 or more and 5% deposit options.

Danske Bank tracker mortgages

The variable interest rate you pay on this mortgage tracks a margin above the Danske Bank Base Rate (UK) for the entire term of the loan. Visit their website to find out what the current rate is. 

Danske Bank co-ownership mortgages

Co-ownership enable you to get on the property ladder by buying a share of a property (you pay discounted rent on the remaining portion). 

Danske Bank buy-to-let mortgages

If you’re looking for a property to rent out, Danske Bank offers a range of buy-to-let options. You can choose from fixed-rate and base rate tracker mortgages.

What is Danske Bank’s mortgage criteria?

As with any lender, Danske Bank’s mortgage criteria is comprehensive and differs according to the type of mortgage you’re applying for. Danske will assess your ability to meet the mortgage’s financial obligations, including your present and future ability to pay the loan.

What is Danske Bank’s mortgage approval time?

Unfortunately we don’t have access to Danske Bank’s average approval times. Generally speaking, the process shouldn’t take any longer than three months, and is often faster. 

The time it takes a lender to approve a mortgage depends on how quickly they can perform a credit check, carry out a valuation on your prospective home and review it, as well as the complexity of your circumstances.

What fees will I have to pay prior to my first mortgage payment?

When you get a mortgage, you’ll usually have to pay a number of “mortgage charges”, including a valuation fee and a product fee. To see a tariff of Danske Bank’s mortgage charges, visit their website directly or call them on the contact number stated below.

How much can you overpay on a Danske Bank mortgage?

Those with a Danske Bank Rate Tracker or Standard Variable Rate mortgage can make overpayments at any time without incurring a penalty charge.

When it comes to fixed rate Danske Bank mortgages, anyone whose mortgage illustration is dated before 4th Feb 2019 will have to pay an Early Repayment Charges (ERC) if they make an overpayment. However, customer whose mortgage illustration is dated 4th Feb 2019 or later can overpay by a certain amount without incurring an ERC.

What is the longest mortgage term I can get?

For Danske Bank’s residential mortgages, you can choose any repayment term up to 30 years.

What will happen when my Danske Bank mortgage deal ends?

When your mortgage comes to an end, you can choose to move to another lender or remain with Danske Bank. If you decide to stay, you’ll be able to renew your mortgage online and get access to exclusive rates.

Do Danske Bank offer online banking?

Yes, Danske Bank offers online banking.

What insurance do Danske Bank require me to have?

In order to help safeguard the lender’s investment in your home, they’ll always require you to take out buildings insurance on the property. 

Contents insurance isn’t compulsory but is highly recommended.

What is Danske Bank’s mortgage contact number?

You can reach a member of the Danske Bank mortgage team on 0800 389 0833, Mon-Fri 8am-8pm  and Sat & Sun 9am-5pm.

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Sources

Information was sourced from Danske Bank’s own website, unless referenced below:

(1) FCA