Moving your mortgages to us

How can we help;

• Competitive range of mortgages with as little as 5% deposit.
• No product fee and one free standard valuation (on a property valued up to £1.6 million) on selected mortgages.
• Mortgage term from 5 to 40 years to suit your needs (subject to individual circumstances and lending criteria).

How are you going to repay your mortgage?

You can choose between a repayment mortgage, an interest only mortgage or a combination of the two.

• Repayment mortgages – your monthly payment is made up of ‘capital’ (the amount you’ve borrowed) and interest. As long as you keep up your payments, your mortgage will be paid off when your mortgage term ends.
• Interest only mortgages – your monthly payment only pays the interest you owe. As you’re only paying interest, you’ll still have to repay the ‘capital’ (the amount you’ve borrowed) at the end of the mortgage term, therefore you must make sure you have a way to pay this off when the mortgage ends.

What type of mortgage is right for you?

• Do you want peace of mind of paying the same amount each month? If you do a fixed rate mortgage may be more suitable for you.
• Do you want to make unlimited overpayments? In which case a tracker rate mortgage may be more suitable for you. It tracks above the Bank of England base rate so your payments will increase or decrease in line with any changes.

1 A minimum amount may apply.

2 If you choose to repay your fixed rate mortgage in full or overpay by more than 10% each calendar year, you'll need to pay an early repayment charge. Check your original mortgage paperwork if you already have a mortgage with us.

Other things you need to consider:

• Fees – if you’re buying a home or remortgaging to us from another lender, you’ll need legal representation and will have legal fees to pay.
• Home insurance – you must protect your home and possessions from the unexpected.
• Life insurance – provides important protection for your family and your home.

 Isle of Man mortgage rates

To apply for a mortgage you would need to:

• Be at least 18 years of age and an Isle of Man resident, or moving to the Isle of Man.
• Want the mortgage for a home in the Isle of Man.
• Be intending to live in that home.
• Have never had a home repossessed.
• Have never been declared bankrupt or subject to an Individual Voluntary Arrangement (IVA).

Preparing for your mortgage appointment

As part of our application process we like to see:

• Your last three years’ address history, with no gaps.
• Your last three months’ payslips or three years’ accounts.
• Your last three months’ bank statements.
• Full details of any loans or credit cards you have.
• A detailed budget planner. This could save you time at your mortgage appointment.
• Proof of your ID, such as your passport.
• Proof of your current residential address, such as a utility bill or bank statement.

All applications are subject to status and our lending criteria. This means that the amount we'll lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a higher deposit if you're buying a flat or a new build property.

Call us +44(0)1624 641 888. Lines are open from 9am – 5pm UK time, Monday to Friday (except Wednesday when we open slightly later at 9.30am). Calls may be recorded or monitored.

Talk to us in branch at 19-21 Prospect Hill, Douglas, Isle of Man.

Send an email to mortgages@santanderinternational.co.uk.

1. Arrange an appointment to speak to a Mortgage Specialist
Just call +44(0)1624 641 888 and we’ll book you an appointment at a time convenient for you.

2. Mortgage appointment
We’ll look at your income and outgoings in more detail to let you know exactly how much you could borrow and discuss what is affordable.

We’ll listen to your needs and provide you with all possible options that meet your circumstances, guiding you every step of the way. Once you’ve decided on which mortgage you’d like, we’ll complete your mortgage application with you and then arrange to value your property.

Please note we cannot provide mortgage advice, so if you do have any specific mortgage questions, we recommend you speak to a financial adviser.

3. Formal offer
Once the valuer has confirmed the value of the property we’ll issue your formal offer, meaning your mortgage has been approved. You then have a seven day ‘period of reflection’ to review the mortgage offer and check you still want to continue with it.

4. Completion
If you’re buying a home, your lawyer will make sure all money changes hands and let you know when you can pick up your keys and move in!

If you’re remortgaging to us from another lender, we’ll liaise with your lawyer to complete the transfer from your existing lender to us.