Are you planning to buy a house but a little worried about the financial burden? The Santander mortgage offers may be able to help you. Mortgages allow you to access the funds you need to purchase a home without having all of the money upfront.
With the Santander mortgage offers, there are minimum requirements to apply. Plus, you can enjoy a free standard evaluation to ensure that you’re getting a property that is worth every penny. If this doesn’t impress you, the gift deposits will. A family member can help you pay for the deposit, so you can borrow a smaller amount that will be more manageable to pay back.
If you think you may be interested in a Santander mortgage, continue reading this article. We will discuss all of the information that is essential for potential applicants to know. Further, we will also tell you how you can apply.
Benefits of the Santander Mortgage
Santander lets clients choose the type of home-buying scheme they want. For mortgages, you can get assistance for first-time home buying or remortgage. In this article, you’re going to find out about the process of application, benefits, and other integral details about the Santander First-time Buyer Mortgage.
Are you tired of renting and ready to own a house but only have limited funds to get started? No worries, because Santander has got your back. With only a 5% deposit, you can already apply for a mortgage. The interest rate is minimum, and you can also choose whether you want a fixed or variable interest. With this arrangement, 95% of the home value can be paid off in 10, 20, or 35 years!
In addition to the smaller deposit, you can also get access to tools that can help you estimate the monthly repayments and other fees. Simply input personal information, property value, monthly income, and other details. Then, in less than 10 seconds, you can get an estimate for free.
Another reason to choose Santander First Time Buyer Mortgage is the multiple repayment options. You can pay off borrowed amount monthly with added interest, only interest, or a combination of both. Given these options, it will be easier for you to settle the loan.
Santander Mortgage Application Process
Applying for the Santander First-time Buyer Mortgage is easy and hassle-free. You can apply through the Santander website, via phone, or by visiting a branch near you. The most accessible will be the online application because you will only need a computer and an Internet connection.
To successfully apply for this mortgage, you need to be at least 18 years old, buying a property in the UK, have never had a home repossessed, and no declared bankruptcy.
The amount you can borrow depends on your financial situation and overall financial capacity. If you have high expenses each month, you can expect to be offered a lower amount.
Santander Mortgage: Important Fees to Note
The initial interest for a fixed mortgage starts at 2%, and then after 2 to 5 years, the rate may go up to 3.9%. Additional fees include valuation fee, re-inspection fee, legal and product fees, account fee, and funds transfer fee. It is best to speak with Santander directly to understand how all of these various fees may add up. If you are looking for a mortgage without so many add on fees, you can look at another option.
How to Contact Santander
To speak with Santander about their mortgage offers, you can reach them by phone at 0800 068 6064 or visit the head office at 2 Triton Square, Regent's Place, London, NW1 3AN.
Note: There are risks involved when applying for a loan. Consult the lender’s terms and conditions page for more information.
