Santander Agreement In Principle Mortgage
Please note that when a customer has a financial agreement involving a balloon payment, this should always be reported as a financial obligation. Any additional borrowing must come from the new range of commercial mortgages. In cases where no additional borrowing is required, an appraisal fee may be due. According to the agreement in principle, the data is kept in Santander`s file and is valid for 90 days. A product ERC is expressed as a percentage of the outstanding customer`s mortgage balance at the time of repayment. The amount of the charge varies according to the duration of the product. The erc percentage remains the same until the end date of the product tax. If your client cashes out their mortgage before the end date of the package, they will have to repay the benefit (cashback or £200 for legal work when paying off). When a product is selected that contains a free standard valuation for mortgage purposes and the customer wants a survey, they must pay and pay separately for all associated costs. For help finding a local surveyor, you can visit the RICS website.
Santander also has some advantages with its mortgages. Other lenders sometimes offer them, but it`s nice to know that they come with most of Santander`s offers. Santander Buy-to-let-home loan are always subject to the same cashback and free attorney fees mentioned above in this buying guide….