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UK's 4th largest lender

Santander lent £26.6 billion in 2020. That's almost 11% of all mortgage lending.

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19 day approval time

That's 5 days slower than the average approval time of lenders we measured.

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Borrow 5.5 times your income

You could borrow up to this amount if you meet the lender's requirements.

About Santander

Santander is one of the UK’s largest mortgage lenders and serves over 100 million customers. 

They provided 10.5% of all mortgages in 2018, a total of £28.3 billion.¹

Santander offers mortgage deals to many people but often will not lend to you if you have bad credit.

In this review we'll cover:

Compare Santander mortgages

Compare Santander mortgages and see how your monthly payments would change depending on the initial period, total mortgage length, your deposit and how much you want to borrow.

After you choose a Santander mortgage deal, one of our expert mortgage brokers can check whether you're eligible and help arrange the mortgage for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

New mortgage
Your loan to value is 60.00%

Is Santander a good mortgage lender?

We're looking at public complaints data to estimate Santander’s quality of service.

There were 8,912 complaints from Santander mortgage customers between July and December 2019.² 

That’s around 0.55% of customers and is lower than the 1.06% average across major lenders.*

Santander scorecard

  • Santander is a good mortgage lender for Help to Buy 

  • Santander offers low deposit mortgages, which could be good for first time buyers

* The number of customers this lender serves is not publicly available. This figure is an estimate based on market share and average house price in the UK.

*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 long a Santander mortgage application takes

In October it took Santander an average of 37 days to process mortgage applications from Trussle customers.

That's 15 days slower than the average time it took other big lenders to process Trussle's mortgage applications in October.

Usually Santander is much faster. In the 6 months between January and July, it took Santander an average of 15 days to process mortgage applications from Trussle customers.

That’s 5 days faster than the 20 day average across all the lenders we submitted to between January and July.

What affects the time taken to approve my application?

The time it takes to approve an application depends on your circumstances and how busy the lender is.

It can take as little as 24 hours to approve some applications but some can take weeks or even months.

The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.

It’s worth keeping in mind that due to coronavirus lenders may take longer to review applications.

How much you can borrow from Santander

Santander could lend you up to:

  • 4.45 times your salary if you earn up to £45,000 a year. 

  • 5 times your salary if you earn over £45,000 a year 

  • 5.5 times your salary if you earn over £100k a year and have a loan to value of up to 75%

  • 5.5 times your salary if you’re remortgaging and there is not a raise in capital

How much you can borrow will also depend on your:

  • credit history

  • debts

  • deposit

  • regular expenses and bills

  • age

See how much you might be able to borrow with our mortgage calculator.

These details were last updated in July 2020.

These details were last updated on 8th August 2019.

Santander mortgage calculator

You can use a mortgage calculator on Santander's website to work out how much you may be able to borrow from Santander with a mortgage.

You can use our mortgage calculator below to calculate how much you may be able with a mortgage and to work out your monthly mortgage repayments.

How much can I borrow?
Mortgage repayment calculator

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

You could borrow up to:

Loan to value (LTV):00%
Including your deposit, you could afford a house price up to£000,000
Other fees you may have to pay:
Broker fee(free with Trussle)
Additional fees(learn more)

Next steps

If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find the best mortgage deal for you.

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

Types of mortgages Santander offers

Santander offers a variety of mortgages for different types of customers.

Santander offer: 

  • Fixed rate mortgages

  • Tracker mortgages

  • Help to buy mortgages 

  • Shared ownership mortgages

  • Buy to let mortgages

You can get a fixed rate mortgage from Santander and fix how much you pay for a certain number of years, often 2, 3 or 5. 

If you do not remortgage when your fixed rate period ends, you’ll move onto their Follow-on Rate. 

The Santander follow on rate tracks the Bank of England bank rate. This means payments will move up and down if the base rate changes.

A tracker rate mortgage will be set for a certain number of years, often 2, 3 or 5. 

The rate will track above the Bank of England’s base rate. Once your initial period is over, you’ll move onto the Santander Standard Variable Rate.

Lifetime tracker mortgages

With a lifetime tracker mortgage, your rate will track above the Bank of England’s base rate for your whole mortgage term.

For every £200 you save with a Santander help to buy ISA, you’ll get £50 from the government. The government bonus will be no more than £3,000.

A Shared Ownership scheme run by a housing association can help you buy a home. 

The housing association will own part of the property and you pay rent on that part and take a mortgage out on the rest.

You may also be able to buy a higher share of the property up until full ownership depending on your finances.

More about shared ownership.

Santander buy to let products have a range of fees and loan to values (LTVs). 

You’ll need to meet the criteria to apply. For example, at least one applicant must earn at least £25,000 and at least one must own the property they live in.

Getting a Santander mortgage

You can get an Santander mortgage either directly from them or from a mortgage broker.

If you’re a first time buyer, check out our guide to find out how the process works.

A mortgage in principle (MIP) will show you how much you may be able to borrow for a mortgage.

You can get a MIP with Santander or through a broker.

As soon as your mortgage application is complete, Santander will arrange for the property to be valued in order to check that its value is suitable for the mortgage you need.

They’ll then make a formal mortgage offer after they’ve received the valuation, at which point your mortgage is ‘approved’.

Santander mortgage offers will expire if you don’t complete the purchase of your property within the agreed time.

How long your Santander mortgage offer lasts will vary depending on the terms of your deal. 

Generally it’ll last between 3 and 6 months from when you receive the offer in writing. This will be after the bank has received the valuation of the property you wish to buy.

Santander will usually release funds for your mortgage on your completion day — that is, the day you pick up the keys to the property. 

This is also when your mortgage deed will be lodged with the land registry.

You’ll set your completion day when you exchange on the property.

When your fixed rate period is over, you’ll automatically move over to Santander’s follow-on rate. This is a variable-rate mortgage which is directly linked to the current Bank of England (BoE) base rate. 

If the base rate goes up, your mortgage payments will increase. 

If the BoE drops the base rate, your monthly payments will go down.

That makes the follow-on rate a little different to Santander’s Standard Variable Rate (SVR), which isn’t directly tied to the BoE base rate.

Santander mortgage payments

Santander will get in touch with you once you’ve completed, letting you know when your first payment will be and how much you’ll have to pay.

You might find that your first mortgage payment is slightly higher than you were expecting. This is usually because of a gap between when you complete on your purchase and the end of the month, which can mean you’re paying more interest than usual.

Santander allows you to make unlimited overpayments on all variable rate mortgages. But there’s an overpayment limit of 10% per calendar year if you choose a fixed rate mortgage.

This means you’ll only be able to pay 10% more than your regular payments without paying an overpayment fee. And this 10% doesn’t carry over from one year to another, so you can’t save up your overpayments either.

There’s also a £500 minimum on overpayments, regardless of which rate you’re on.

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Get a mortgage with Trussle today

  • Our customers save an average of £310 a month on their mortgage*

  • Trussle is fee-free for most customers**

  • 5-star Trustpilot rating from over 5,000 reviews

  • 12,000 mortgage deals from 90 lenders

  • Skip the paperwork: apply online any time

*The savings figure is from Trussle mortgage customers in August 2022. **You may have to pay a fee depending on your circumstances and credit history. Learn more.

Your home could be repossessed if you don't keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

What people are saying about Trussle...


Deal and rate data sourced by Trussle. All other information sourced from Santander’s website, unless referenced below.

  1. UK Finance - Largest mortgage lenders

  2. Financial Conduct Authority - Firm specific complaints data