The lender plans to widen the technology beyond remortgage applications but could not confirm a timeline.
It said: “Today, this is a remortgage only solution. However, at a later date we hope to introduce further functionality to the tool, enabling other customers to apply online.”
The lender said the use of ‘straightforward questions and design’ make the application process easier.
Santander said: “Customers can save their application and resume at a time convenient to them, as well being able to choose from Santander’s full mortgage range. Any documents that are required to support the application can be uploaded immediately and customers are kept updated on the progress of their application by email.”
The online-only remortgage exclusives offered include a two-year fix to 60% loan-to-value (LTV) at 1.23% with a £995 product fee and a five-year fix to 60% LTV at 1.99%.
Miguel Sard, managing director of mortgages at Santander, said: “Today, more and more is being done online. From small things like ordering shopping to bigger things like booking flights. When it comes to managing your mortgage, it shouldn’t be any different. We know that many people already look around for the best deals online, this tool takes it a step further and we are empowering customers to secure their mortgage online, at a time and place that suits them.”
He added that this solution is great for customers who know they want to remortgage and have found a deal that works for them.
This morning Habito announced its own adviser-free mortgage technology, which simulates the mortgage advice process.