Formerly Sovereign Bank, Santander Bank is a wholly owned subsidiary of Spanish Santander Group. Established in Spain though today headquartered in Boston USA, Santander continues to show growing commitment to technological innovation and product flexibility. Santander is also the international banking group with the largest branch network, with an impressive 14,680 branches worldwide.
With a Buy to Let mortgage from Santander, you will still be able to claim some tax relief due to your mortgage interest but the amount that you are able to claim has changed. This means that you will need to update your tax information to make sure that you are paying enough.
Since there is so much information that the mortgage lender will need from the borrower, in order to obtain a Buy to Let mortgage, you will have to come into the branch to speak with a financial advisor. While you can call and get information, you cannot start the loan process over the phone.
If you own four or more properties that are mortgaged as Buy to Let, then you will be considered a portfolio landlord. This means that if you are currently under this definition, then there are no changes and you can switch to new products as necessary. If you want to expand your portfolio, you will be unable to get a mortgage with Santander. In the same way, if you remortgage with a different lender, you may need to have more information showing your business plan and property schedule.
These loans are intended to help people purchase a brand-new home without a huge deposit or to help first-time buyers to get on the property ladder.
The Help to Buy scheme has three main categories:
These loans are among the most popular ways of getting on the property ladder and are available to people who look at buying a new-build property. These loans work like this:
A mortgage calculator is a great way of finding out the size of mortgage you’re able to make an application for and how much it’s going to cost you. These calculators can be used for all mortgages such as buy to let mortgages and home mortgages.
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