Santander Equity Release (Jan 2022)
Santander Lifetime Mortgage Review
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Considering Santander Equity Release? What are the Pros, Cons & Costs? Discover If Santander Lifetime Mortgage Schemes are for You.
Before You Start Reading...
Let's See How Much You Can Release 👇
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release provider with all the choices available.
Or is it?
Is Santander equity release the best?
The companies we profile, are the best in the business to help you unlock the cash tied into your home.
- Understand the services that Santander offers.
- Determine if they might be able to assist you and your family on your equity release journey.
As experts in the equity release field (we’ve reviewed more than 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.
What’s Equity Release?
An equity release mortgage (See What’s Equity Release?) is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. We’ve summed up the most important information about the topic in this quick video.
Who Are Santander?
L&G equity release mortgages are sold by Santander.1 Santander has entered into a five-year agreement with Legal & General Home Finance to provide the company’s lifetime mortgages to its existing customers who are having trouble paying off their interest-only mortgage.
What About the Santander Equity Release Calculator?
Before you consider using the Santander calculator, please take note.
Our providers can almost always match & BEAT any existing equity release quote that you find through Santander. So first use this calculator below & see how much you can release.
How Much Can You Release?
Use the FREE Calculator 👇
It's VERY FAST and, takes just 8 seconds
Why Consider Santander?
Santander Reviews & Ratings
Santander Equity Release Pros & Cons
Santander Pros
- Equity release at 2.21%.
- Free valuation fee
- No monthly payments unless you prefer interest-only
- Continue to live in your home and retain 100% ownership
- You can still move home as Equity Release is transferable
- Santander offers home equity line of credit, with no closing or application fees, to homeowners looking to take advantage of the equity they’ve accumulated in their home.
Santander Cons
- lack of resources and small geographical coverage
- They feature attractive options for people with high savings balances, but are less convenient for borrowers with shakier financial histories.
- Santander has basic tools on their website, including an online application, mobile app, and home equity calculator. However, it is missing important information, like interest rates and similar specific details. Common complaints include a confusing online banking service and unhelpful customer service representatives.
Santander's Equity Release Plans & Lifetime Mortgage Schemes
| Product Name | Type | Interest Rate The interest rate is the cost of borrowing the principal. | APR The APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan. |
|---|---|---|---|
| Product Name | Type | Interest Rate The interest rate is the cost of borrowing the principal. | APR The APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan. |
- No Schemes Listed Yet
Not what you're looking for?
Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!
Learn More About Santander
Santander is a major retail and commercial bank in the UK and is a wholly-owned subsidiary of Spanish multinational financial services company Banco Santander. The bank was established in 2010, after Abbey National combined with the savings business and branches of Bradford & Bingley. Alliance & Leicester merged into Santander in May of the same year.
The company’s new goals are in line with Banco Santander’s European strategy. Its aim is to be the greatest bank for all of its stakeholders, focusing on client loyalty, simplicity, increased efficiency, and long-term development.
Santander offers innovative products and services to help individuals and companies succeed. It manages its company via three client business divisions, backed by the Corporate Centre, to deliver high-quality, seamless service throughout its branch network, digital, and telephonic channels.
The bank’s unique worldwide offering gives it access to a wide range of markets while also providing significant experience and insight.
FCA Details
FCA Address
2 Triton Square
Regent’s Place
London
NW1 3ANN W 1 3 A N
UNITED KINGDOM
Trading Names
Current
- Santander Cards UK Limited
- Santander Cards
Previous
- GE Capital Bank Limited
FCA Permitted Services
- Insurance
- Investments
- Other Services
Regulators
- Financial Conduct Authority
- Financial Services Authority
Registration Numbers
- FCA Ref Number: 204572
- FCA Reg Number: 1456283
Companies House Link
Santander Info
- 2 Triton Square, Regent's Place, London NW1 3AN
- 8009123123
- customerservice@santander.co.uk
Got Questions About Santander & Lifetime Mortgages?
Is Santander A Member of the Equity Release Council?
What Are Santander's Interest Rates on Equity Release?
Who Owns Santander?
Where is Santander Located?
Conclusion
Before You Go...
Let's See How Much You Can Release 👇
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
