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#Abbey/Santander : Locked in variable rate, they will not offer me another deal.

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Hi, I am trying to find out is it acceptble for Santander to refuse to offer me anything other than their expensive SVR? I was with Abbey, now it's Santander, had mortgage about 5 years. I had credit problems when first left Uni and had the mortgage transfered to them.


I pay over £360 on an £80k mortgage. My friends who are on Variable rate have been paying half this.


My mum recently had a letter from the Halifax refunding over £2k as they had locked her in an SVR when they shouldnt have.


When I phoned Santander the woman said they wont offer me any other deal but I am free to go to another provider. So basically...sod off. I have no arrears and have not missed any payments for 4 years where I did get two months in arrears at one point.


Any thoughts if anyone has the time. Many thanks.

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If you are not locked in with any redemption penalties then you are fee to look elsewhere, find an independent mortgage advisor who can source the market for you, or research it yourself on the net.


Previous arrears may create a problem for you unfortunately but if it was a few years ago you may be ok


Your post is a little confusing when quoting SVR (Standard Variable Rate) and Variable rate, these are the same IMO, but different banks/building societies have different base rates.


Santander is currently 4.24% however I am with C & G which is 2.5%

Edited by Dotty50
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