If your client is worried about paying their mortgage, we’re here to help. We’re proud to support the government Mortgage Charter.
How the Mortgage Charter can help your clients
The Charter is a set of standards agreed by the government, mortgage lenders and regulators to help your clients who are struggling to pay their mortgage.
- Your clients can get in touch with us for help and guidance. Talking to us about their concerns doesn’t affect their credit file. They can visit our cost of living support page to get the help they need.
- Your clients can lock in a new mortgage deal with us 4 months before their current fixed rate deal ends without an affordability check. We'll write to them before to remind them of their options.
- Once your clients have accepted their new deal, they can change to a different deal or cancel the one they've already booked. They must do this at least 14 days before their new deal starts.
- Your clients can reduce their monthly payments, if they’re up to date with them, by
- switching to interest only for 6 months, or
- increasing their mortgage term.
They can only choose one of these.
- From Monday 26 June 2023, we won’t force them to leave their home within 1 year of missing their first payment. We’d only repossess their home in exceptional circumstances.
If possible, we encourage your clients to keep making their mortgage payments. If they miss their payments (known as arrears), they'd still owe us the money. It would also affect their credit file.
For more mortgage support visit our Santander customer website.