Santander mortgages

[Bells3032]

Does anyone have a santander mortgage? How accurate were their "quick quote calculators". It's offering us over 5x our salary but before going down that road and getting a footprint on our credit checks wanted to see the liklihood of actually getting that.

We have no loans or outstanding credit cards and have a 40% deposit.

Also where they actually any good to deal with?

Thank you

Cant comment on their quick calculator but I have a mortgage with them and never had any problems, always quick and easy to deal with

I don't know about the quick quote as we went through a broker and the original mortgage was with Abbey and got transferred to Santander when they took over Abbey.

However, we have stayed with Santander and have never had any issues, they are helpful if you call them, haven't made any errors on our account and have good fixed rates for us at least!

When we move/remortgage we would try and stay with them if that helps?

Can't comment on their calculator (although 5 x salary feels high to me?) but they've been great to work with. We got our mortgage nearly 3 years ago. Everything was done online, super quick and helpful staff. I love the app and their online portal makes it really easy to manage overpaying. I'd happily stick with them and use them again.

Like the above, cant comment on the calculator as we went through a broker but for everything else its has been really straightforward. We have had 3 great fixes In a row none took more than 15 minutes to sort out.

Not sure on the calculator as we borrowed nowhere near what that said. We've always had our mortgages with them and they've always been easy to deal with although with out last one we went through a broker. Never had a problem with them and always managed to get decent rates. Just hoping our next renewal at the end of the year will be as good!

Thanks all

@CraftyGardener most places seem to offer 4.5-5 to me. My last mortgage on my flat I got 5 times my salary and managed to service it ok on a single salary though money was a little tight. If we go with this option its about 5.1 times our salary but still only comes to about £1600 a month for a take home pay of £7000 between us so think that will be ok and fairly manageable.

Definitely recommend Santander. We started with Abbey 10 years ago before they were bought and have stayed with Santander across a further two house moves and multiple renewals. Never had an issue borrowing what we wanted (though we always took less than offered) and they generally have decent rates and are ok to deal with.

It's probably a combination of your high monthly income and 40% deposit that makes the income multiple so high, as they go for affordability rather than straight multiples these days.

Someone with a lower income and/or lower deposit might not get such a high income multiple because the amount of money leftover for food, bills etc would be far smaller, so wouldn't be as affordable as you with such a high income and mortgage that is a relatively small fraction of that.

@Bells3032 Fair enough :) If it's what you're used to and what you're comfortable that's great. I think my perception of what's affordable and what's high risk is skewed by my being spoiled up in the NW with property prices here. Good luck with your house buying!

We have a santander mortgage. They were the only lender who would give us enough to buy our house so I think they are gewnrous with their salary multiples, and we've never had any problems with them

Horrible customer service if anything goes wrong in my experience.

I've been with them for a while - I went through a broker - and have renewed my fixed rate with them twice.
They're always very easy to deal with, I haven't had any issues at all (so far !)