The lender will launch the new tool on Monday 7 April as part of a refresh of its introducer service. It said this will make it easier for brokers to transfer existing Santander mortgage customers to another Santander mortgage.
Intermediaries will be able to easily conduct a range of activities for their eligible clients:
– Identify which loans are eligible to transfer
– Compare the mortgage deals available
– Compare monthly payments
– Submit transfer requests online
– Track the broker’s transfer request on the introducer internet. This will include regular email updates to both the intermediary and their client on the progress of their transfer.
Eligible clients must have at least one loan part on their mortgage account which:
– is within four months of their existing deal coming to an end, or
– has recently moved onto Santander’s Standard Variable Rate (SVR).
If the client’s mortgage is with Alliance & Leicester, mortgage customers must have a single loan mortgage account which meets the aforementioned eligibility criteria.
Brad Fordham, managing director for Santander for Intermediaries, said: “Our new online mortgage transfer service is the latest component to our improved post-MMR service offering. The new tool, available on our refreshed Introducer Internet from 7 April, will help brokers transfer their existing Santander mortgage clients on to a new mortgage product online, at a time convenient to them.
“Under the new regulation, the retention of all existing customers will be a key area of customer output for Santander. We are committed to helping intermediaries support our existing customers, enabling them to maintain a mortgage that’s right for their needs, while providing them with the support they should receive from their lender.”
