News
Santander adds mortgage direct debits to 123 current account
Every new and existing Santander and Abbey for Intermediaries mortgage customer who already has or opens a new Santander 123 Current Account will earn 1% cash back on their mortgage payments when they pay by direct debit, up to £1,000 a month.
The offer is available from today and the lender said this could save customers up to £120 a year on their mortgage.
The 123 account pays cashback on household bills and interest on balances. The lender offers 1% cash back to customers paying their water, council tax and Santander mortgages by direct debit. It will offer 2% cashback on electricity and gas bills paid by direct debit and 3% on communications bills, like phone and broadband. It will also pay between 1 to 3% cashback on balances.
New and existing customers can open the account online, in branch or by phone.
AFI managing director Miguel Sard (pictured) said: “In today’s challenging economic conditions, the feedback from our intermediary partners is that now more than ever, their clients are looking for ways to save money and turning to them for a more holistic service. Since we launched the 123 current account in March this year, we have continually engaged with customers to find out what they would like from the account and the overwhelming response was that they’d like cashback on their Santander mortgage payments.
“We are committed to becoming the intermediary partner of choice and this enhancement will allow us to work with intermediaries to add even more value to borrowers taking out a mortgage with Abbey for Intermediaries.”
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