Merritt (pictured) joined Santander UK from Yorkshire Building Society on 6 February and caught up with Mortgage Solutions to share how the last eight weeks in the role have gone.
The mood of the mortgage market has changed significantly since you joined. How have the last eight weeks been for you?
If there is such a thing as a gentle start in mortgage trading, this has not been it. The market is shifting quickly, volatility has returned, and brokers are under enormous pressure, but what has struck me most in my first eight weeks as head of mortgage trading is the bank’s determination to stand behind the broker community through it.
I’ve joined a business with real momentum, a clear strategic direction and, importantly, a genuine understanding of the central role brokers play in this industry. That matters because while there is a huge amount of opportunity in front of us, this remains a turbulent period for the market as a whole.
Geopolitical disruption, changing rate expectations, and wider economic uncertainty have all fed through into mortgage pricing and market volatility. For lenders and brokers, that creates pressure. It means faster decisions, tighter turnaround times and, at points, a real need to navigate rapid repricing. In many ways, it has been a baptism of fire. But equally, it is one that will feel familiar to many of us who have worked through the upheaval of the last five or six years.
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This market has tested everyone, and it has also shown the value of resilience, consistency and strong partnerships.
Santander distinguished itself with its broker pledges in 2025 and reinforced them this year. How have you seen these commitments work in practice?
That is one of the reasons I was so keen to join Santander.
The moves the bank has made in the intermediary space have not gone unnoticed. Santander launched its broker pledges in February 2025, including no dual pricing, a minimum of 24 hours’ notice on product withdrawals, and improvements to the product transfer process. Those pledges were renewed for 2026, with the addition of access to underwriters, underlining that this is not a one-off message but an ongoing commitment to the broker community.
How have the pledges shaped Santander’s reaction to the latest market changes?
What stands out to me is that this is about more than words. Since the start of the year, we’ve completed nine product relaunches and, in each case, we’ve provided well over 24 hours’ notice. In fact, on average, we’ve given around 30 hours’ notice. I’m pleased to say, despite the upheaval over the last few weeks, we’ve stayed true to the pledges, and I’ve seen first-hand how appreciative our broker partners have been for this.
That kind of consistency really matters in a market where brokers are balancing client expectations with fast-moving lender decisions.
It also comes at a time when the value of advice has rarely been clearer. Santander’s latest Broker Perception Barometer found that, for the second quarter running, 63% of homeowners said they could not have gone through the home buying or remortgaging process without a broker. More than four in five said they would use a broker again, and 89% of Santander property purchases so far this year have taken place through a broker.
That tells you a lot. Brokers are not just distribution partners; they are trusted guides, translators and reassurers in what can often feel like an overwhelming process.
That is why backing the broker is not just a slogan. It has to show up in the way we price, communicate and support advisers day in, day out.
What are you most looking forward to in your role?
I’ve joined at an interesting time, yes, but also at a time when Santander is being very deliberate about the role it wants to play in the market. We have a strong direction of travel, a talented team of like-minded people, and a shared belief that if we support brokers well, we support customers better too.
For me, these first few weeks have only reinforced that sense of optimism. It is a demanding market, but it is also one full of opportunity. I’m excited about where Santander is heading next, and even more excited about how we can get there alongside the broker community.
