Ways we can help
- 5% deposit mortgages available
- Use a gifted deposit from your family if you’d like to
- Free standard valuation on most of our mortgages
Considering help from family?
With nearly half of first time buyers now getting help from family members, we’ve put together lots of information to help guide both you and them.
Take a look at our Step Up: Helping family to buy page
Buying your first home guide
Let us walk you through how to do it, including:
- Costs you need to consider
- How to improve your credit rating
- Understanding mortgages and if you’re eligible for one
- Buying options like Shared Ownership and Help to Buy schemes
- Making an offer, applying for a mortgage and moving in
Take a look at our step-by-step guide
Santander research shows that two-thirds of first time buyers in the past two years (67%*) buy a home in a neighbourhood they had not been to previously.
40% of first time buyers spend less than two hours in a new neighbourhood before deciding to buy a home there.*
*Polling of 2,000 first time buyers in May 2024, based on those who said they compromised on location when buying a first home.
We want to help you decide which neighbourhood is best for you to move to. So, we've put together this list for you to go through when you look at prospective neighbourhoods, to make you aware of things to consider when you do viewings.
Below are just some ideas of things you could do to get to know a new neighbourhood
- Walk the high street – and pop into a shop that you wouldn’t usually – a framing shop, a boutique, an antique store - find out the owner’s name and how long the shop has been there for.
- Visit the local pub and drink a tipple of your choice – introduce yourself to the landlord.
- Walk or drive the route to work or find the nearest bus stop/station you would use for work.
- Visit the local independent coffee shop and ask where their coffee comes from.
- Find three activities you could do locally on a rainy day – cinema, bowling, indoor rock climbing – the quirkier the better.
- Visit the nearest park and challenge yourself – do the monkey bars, swing as high as you can on the swing or time how long it takes to run a lap of the perimeter.
- Follow any local business pages on Instagram, get to know what they post about and who they are long after your time touring the neighbourhood is up.
- Find your nearest local dentist and doctor's surgery.
- Spot a local paper? Grab it for the local news and insights from that week!
- Love books? Find the local library. Enjoy the gym? Pop in to the local one and speak to the team. If you have a passion, find somewhere that you can continue that in your new neighbourhood.
- Think about the time of day you visit. If you’re concerned about how school traffic will impact congestion, for example, work that in to make sure you’re in the area at that time and see for yourself.
Useful information
This can also be called a 95% loan to value (LTV) mortgage.
It allows you to buy a home with a deposit of between 5% and 10% of the total price.
For example, if your new home costs £200,000, a 5% deposit would be £10,000. This means you’d need a mortgage of £190,000.
If you can put down a bigger deposit, you’ll have more deals with lower interest rates to choose from.
It could also reduce your risk of negative equity. This is when the value of your home is less than the amount you owe on your mortgage.
Take a look at our Negative equity page for more information on this.
Designed to help make buying your first home easier
Shared Ownership
With this scheme you can buy part of a home and a housing association owns the rest. You pay rent to the housing association for the share it owns.
Over time, you can choose to buy more shares, until you own all of your home.
Take a look at our Shared Ownership page if you’d like to know more.
Forces Help to Buy
This is a Ministry of Defence (MOD) scheme to help regular armed forces personnel buy their first home.
- The scheme lets you borrow up to 50% of your annual salary, up to a maximum of £25,000, to use towards the deposit on your first home
- The loan is interest-free and must be paid back to the MOD within 10 years through your salary
- You will need to check with the MOD to see if you qualify for this scheme
- Call us to apply for one of these mortgages. They’re not available online or in branch.
Find out more about Forces Help to Buy
Help to Buy: ISA
If you have a Help to Buy: ISA, you can continue to save into your account until 30 November 2029. If you want to claim the 25% government bonus on your savings your conveyancer must do this by 1 December 2030 (eligibility applies). To check eligibility for the government bonus, visit the Help to Buy government website. The scheme has now closed to new applicants.
This is a brief summary of the 3 different types of mortgages we offer
| Fixed rate | Tracker rate | Lifetime Tracker |
|---|---|---|
| Best for: For people who want to know how much they need to repay for the next few years  You can fix your deal for 2, 3 or 5 years. During this fixed period your monthly payments will stay the same. After your fixed period you’ll move onto the Santander Standard Variable Rate. If you want to finish your deal early, you may have to pay an early repayment charge. | Best for: For people who think interest rates might change in the next few years or want to make unlimited overpayments.  You can choose a mortgage with an initial rate period and during this period your rate tracks above the Bank of England base rate. With this type of mortgage your payments may vary. The initial rate period is usually 2 years and after that you move onto the Santander Standard Variable Rate. | Best for: For those who don’t want to look for a new mortgage deal again or who want to make unlimited overpayments.  With a Lifetime Tracker mortgage your rate will track above the Bank of England base rate for the life of your mortgage term. Your payments may vary with this type of mortgage. |
The graphs are for illustrative purposes only.
For an in-depth comparison of the mortgage types on offer read our guide to mortgages
Repayment mortgage
Your monthly payment covers both the amount you’ve borrowed and interest. So as long as you keep up your payments, your mortgage will be paid off at the end.
Interest only mortgage
Your monthly payment only pays off the interest. You’ll still need to repay the amount you borrowed at the end of your mortgage and will need a separate plan in place to do this (such as an investment or endowment). We may limit the amount allowed on interest only.
Combination
You can choose to pay part of your mortgage as repayment and the other part as interest only.
Apply for a mortgage
Before applying for a mortgage, you'll first need to get a decision in principle (DIP) from us online or by phone. A DIP tells you if we could lend you the amount that you need for your mortgage. It also won't affect your credit rating.
Online decision in principle
Get a no obligation decision in principle before you apply
Start my decision in principle
Continue my decision in principle
Online mortgage application
Once you’ve got your online decision in principle, you can apply for your mortgage
Continue my mortgage application
By phone
0800 068 6064
Our mortgage team is here to help 9am to 7pm Monday to Friday and 9am to 2pm Saturday
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Applications are subject to status and lending criteria. Applicants must be UK residents aged 18 or over. The amount we will lend depends on your circumstances, the amount borrowed and the property. A higher deposit may be required for a flat or new build.
Other things to consider
Protecting the important things
Home insurance
You’ll need buildings insurance to protect the property you’re buying and then contents insurance once you’re in. Get a quote online in minutes and see how much it would cost.
Choose from 3 or 5 star Defaqto rated cover.
No interest on monthly premiums and no charge to make changes.
Administered and underwritten by Aviva Insurance Limited.
Life Insurance
Designed to give you and your family peace of mind as it could be used towards paying off your outstanding mortgage.
99.4% of claims paid out in 2021 (source: Aviva).
A range of options to protect your mortgage.
Administered and underwritten by Aviva Life & Pensions UK Limited.