Santander Mortgages

Fixed Rate Mortgage

At Santander, we have a variety of mortgages that are tailored to your individual needs. For example, you may want the certainty of a fixed rate mortgage over a certain period of time - we’re here to help.

As one of the UK’s biggest lenders, we have helped thousands of people to buy their home or change mortgage lender. At Santander we know that everyone in the UK has different circumstances so we offer a range of mortgages for our customers.

What is a Fixed Rate Mortgage?

A fixed rate mortgage makes it easy to plan ahead, because as the name suggests, the interest rate on your mortgage stays fixed for a set period.

This means that as a fixed rate mortgage customer, even if the Bank of England Base Rate or our standard variable rate changes, the interest rate on your mortgage remains constant over a fixed period of time. This makes your budgeting easier, because you can plan ahead knowing exactly how much your monthly repayments will be.

What are the benefits of a Fixed Rate Mortgage?

Fixed rate mortgages can be good for first time buyers and anyone on a budget who need the stability of a set monthly repayment. With a variable rate mortgage your payments may go up and down according to the Bank of England Base Rate. However with a fixed rate mortgage you have the security of knowing the exact amount you will repay each month for a set period, despite any changes in interest rates.

Having a UK fixed rate mortgage means the interest rate you will pay is set for a specified period. We have a range of fixed rate mortgage terms available, currently fixed terms of two to five years tend to be popular with our customers. Once the fixed rate period is at an end, your repayments will revert to our standard variable rate.

Please note, all applications are subject to status and our current lending criteria. This means that the amount we will lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a higher deposit if you are buying a flat or a new build property.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE