Table of Content
If you’re an existing Santander mortgage customer planning to move home, you might be wondering whether you can take your current mortgage with you — and whether that’s the best option. As a trusted partner of Santander and a whole-of-market mortgage broker, Strive can help you understand how porting works, compare it against other available deals, and determine the most cost-effective route.
Our team handles the entire process, from assessing eligibility to coordinating the move, often making it quicker and more straightforward than dealing directly with lender call center.
Can you move your Santander mortgage to a new property?
Most Santander mortgages are portable, subject to affordability and criteria being met. It’s important to check the terms of your mortgage, which can usually be found either on your original mortgage offer or by contacting them directly. While the mortgage itself may be portable, it’s important to understand that this does not guarantee acceptance. The application is subject to underwriting, and the process is very similar to any other non-porting application.
Looking for 5 star mortgage advise? We’re ready to help.
Whatever stage you’re at, it’s never too early to reach out.
View all 53 reviews on Trustpilot
What are your mortgage options when moving home?
There are several scenarios you may consider when moving home, and the best option for you will depend on your own circumstances and preferences:
- Stay with the same lender: This option may allow you to avoid exit fees if you’re moving midway through a fixed-rate term.
- Stay with the same lender and borrow the same amount.
- Stay with the same lender and borrow more: This is subject to affordability and criteria. The additional borrowing will usually be on a different rate than the existing ported mortgage.
- Stay with the same lender and borrow less.
- Switch to a new lender: This may involve an exit fee if you’re midway through a fixed-rate term.
- Change the length and repayment type of the mortgage: It’s sometimes possible to adjust the length or repayment set of your mortgage term when porting a Santander mortgage. For example, if you are significantly increasing your borrowing, you may want a longer term to accommodate, or vice versa when taking a smaller mortgage.
Benefits of Santander porting
Your points are well articulated, but here’s a refined version for clarity and coherence:
There are potentially numerous benefits to porting a mortgage with Santander:
- Saving money on exit fees: For instance, if you’re tied into a £200,000 mortgage with a 5% Early Repayment Charge (ERC), redeeming your mortgage to move to another lender could incur a fee of £10,000. Porting your mortgage may help you avoid this expense.
- Saving money on rates: If rates have increased or less attractive options are available, porting your mortgage can be advantageous. For example, if you secured a rate at 2% on your current mortgage and the rate when you look to move is 4%, porting may allow you to continue enjoying your lower rate for the remainder of the product term.
- Potentially easier process: As the lender has a history with you and your information, the porting process may be smoother and quicker compared to starting afresh with a new lender.
Outstanding service and clear communication are at the core of what we do. But don’t just take our word for it—read firsthand experiences from our clients and discover why they rate us a 5-star mortgage broker.
Drawbacks to porting
There can be some potential drawbacks to porting:
- Limitations with current lender: Your current lender may not offer the terms you require. Other lenders may provide higher borrowing amounts or offer more favorable terms, such as longer mortgage terms, cheaper rates, or more suitable products like offset or tracker mortgages, which your current lender may not offer. The mortgage you originally took may have been suitable then but may not meet your needs now.
- Rate comparison: It’s important to compare the trade-off between potentially saving on Early Repayment Charges (ERCs) with any difference in interest rates.
- Multiple sub-accounts: If you borrow additionally, the additional borrowing will be placed on a separate sub-account. While not necessarily a problem, having multiple sections to your mortgage can create issues when remortgaging because the fixed-rate end dates may not align. For example, your existing mortgage may end on June 30, 2027, but your top-up borrowing may have a fixed interest rate until September 2027.
Santander Porting Calculator
Santander offers a mortgage affordability calculator to help you estimate how much you can borrow when moving home. The key point to remember is that Santander applies different affordability rules for new borrowers and existing Santander mortgage customers who are porting their mortgage.
When using the calculator, be sure to tick ‘Yes’ to “Are they existing Santander mortgage customers moving home?” to ensure you get an accurate result based on the correct criteria.
You can access it here: Santander Affordability Calculator
Speak to a Santander mortgage expert today
What Are Santander Porting Rates?
When you port your Santander mortgage, your existing rate will usually stay the same until the end of your current fixed-rate period. This means you continue benefiting from your original deal on the amount being ported.
If you need to borrow additional funds for your new property, the extra borrowing will be placed on one of Santander’s current home mover rates. As a result, you may end up with two or more sub-accounts within your mortgage — each with its own rate, term, and end date.
You can view Santander’s latest home mover and porting rates here: Santander Mortgage Rates
Do Brokers Get Different Rates to Going Direct?
They can — but it depends on the situation. When porting a Santander mortgage, your existing rate remains the same whether you go direct or through a broker. However, if you’re borrowing additional funds, brokers can sometimes access exclusive intermediary rates that aren’t available when applying directly with Santander.
These broker-only products can occasionally offer lower rates or more flexible terms, meaning it’s worth comparing both options before proceeding.
What is the Santander mortgage porting process?
The process for porting your mortgage with Santander is similar to any other mortgage application, but with a few nuances:
- Consult a mortgage broker: They will calculate the equity in your existing property, consider any additional funds needed for the move, factor in associated costs, and determine the mortgage amount required. They will then assess both porting options with Santander and offerings from other lenders to find the best fit for you.
- Agreement in principle (AIP): Contrary to popular opinion, an AIP is still required for a Santander porting application. This confirms the amount you can borrow and strengthens your negotiation position when making an offer.
- Property search and offer acceptance: Once you find a property and your offer is accepted, you can submit the mortgage application.
- Underwriting: The mortgage application undergoes underwriting, where Santander assesses your financial situation and the property’s suitability for the loan.
How can Strive help?
While you can port your mortgage directly with Santander, working with Strive often provides a smoother and more strategic experience. We look beyond Santander’s offering to assess the whole market — ensuring you’re not only eligible to port but also getting the best possible overall deal.
Our team has extensive experience managing home moves and porting applications, including thousands of successful Santander cases. We handle everything from assessing affordability and coordinating valuations to aligning completion dates with your new purchase. By managing the process end-to-end and liaising directly with Santander on your behalf, we help you avoid delays, reduce stress, and move home with confidence.
FAQ’s
It depends. If you’re borrowing additionally, there may be product fees, and there could be valuation fees, but no fees specifically for porting.
Yes, the underwriting process is very similar to any other application, and you could be refused if you do not meet affordability or criteria.
The porting element will be the same as your current product, and the additional borrowing will be based on the prevailing rates on the day of application. Typically, 2, 3, and 5-year fixed rates are offered, as well as 2-year trackers.
It depends on the terms available to you. If rates have increased since you took out the original mortgage you intend to port, then potentially.
Yes, subject to criteria, affordability, and credit checks, assuming your product is portable.
A credit check will be conducted. Santander usually insists on reasonable credit. If you are not increasing your borrowing or loan-to-value, they may be more lenient.
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
