Large loans

Our dedicated Large Loans Team provides you with a tailored service to meet your clients’ needs for loans over £1 million.

  • Consider and respond to Agreement in Principles submitted through Introducer Internet within four business hours.
  • Discuss new propositions by phone.
  • Underwrite fully packaged applications within 48 hours from receipt into underwriting.

Our large loan products are available up to 70% LTV, with a maximum loan size of £3 million.

If your client wishes to borrow over £3 million, please contact our Large Loans Team.

How to contact our Large Loans Team

Our Large Loans Team is available to help with your large loan requests over £1 million during the following business hours:

Monday, Wednesday, Friday  9:30 to 17:00
Tuesday & Thursday       9:00 to 17:00

Lending Relationship Manager Graeme Kell

Telephone          0800 085 1136
Email             smservice@santander.co.uk

 

For existing large loan application queries please refer to the Mortgage Application Tracking System (MATS).

If your query cannot be resolved through MATS you can contact the admin team on 0800 085 1390 Option 1.

Key criteria

  • Residential properties only.
  • Available on loans from £1 million up to £3 million. Maximum 70% LTV.
  • Interest only mortgages: maximum 50% LTV on interest only and the remaining amount on capital and interest. Interest only repayment vehicle must be satisfactory.
  • Affordability is calculated in the same way as a standard case.
  • Cash bonus income will be taken as secondary income; the last three years' track record is needed. We want to ensure that bonus income is not being used for both affordability and for the deposit.
  • Properties with agricultural land/large acreage must have no more than ten acres of land.
  • For non-standard properties or properties with large acreage please contact the Large Loans Team for guidance.

Evidence

After you've submitted the application, package all documents together and upload to us straightaway via Introducer Internet and/or the Mortgage Application Tracking System to avoid any delays.

UK taxable income accepted only. 

For proof of income we require the following:

Employed
  • Last three months’ payslips.
  • Proof of the last bonus or incentive payment.
  • The last three years’ P60s or compensation statements.
Self-employed
  • Last three years’ signed certified accounts.
  • SA302s plus corresponding Tax Year Overviews (TYOs). Further information/confirmation from accountants may be needed if the client’s income isn’t immediately apparent from the accounts and/or the income is from multiple sources.
Minority partners in LLPs We may need:
  • a letter from the Senior Partner/Finance Partner addressed to Santander detailing the client’s share of profit for each of the last three years, and
  • SA302s plus corresponding Tax Year Overviews (TYOs) for each of the last three years.

 Additional evidence needed:

All applications

Statement of Assets and Liabilities to contain details of the following:

  • Assets, e.g. properties/investments/cash/shares.
  • Liabilities, e.g. mortgages/loans/partnership loans/credit cards.

If you don't have a statement of Assets and Liabilities form please use our template.

Purchase applications Proof of deposit, stamp duty and associated costs (including source).
Remortgage applications with capital raising Full details of how the funds are to be used. We may request additional supporting documents/information
Interest only mortgages Full details in respect of how the mortgage will be repaid including proof of repayment vehicle where applicable. For further information view our interest only guide.
Background properties

If your client will own any other properties on completion of the new mortgage we recommend that you enter these details into Step 1B in the affordability calculator. We may need to take into account the running costs of the other properties so this will help us to calculate a more accurate result.

Large loan service levels

Agreement in Principle response within 4 hours 
Response to telephone and email queries within 4 hours
Underwriting of fully packaged application within 48 hours