<p>Santander has announced that from tomorrow (14th December 2022) it will be decreasing all of its residential and most Buy to Let affordability rates. Free PR platform, Newspage, sought the views of brokers.</p>

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Santander - Reduction of residential and Buy to Let affordability rates

This is great news and a sign of more normality returning to the market for both residential and buy-to-let clients. It's a clear indication of lenders' ability and willingness to lend and confirms that the mortgage market remains open for business. It further confirms lenders are in a much stronger position than they were back in 2008, and that the future looks positive.

Craig Fish

I’m driven by a passion for clear, no-nonsense advice - always delivered in plain English. That might be my northern roots showing, but I believe in cutting through the jargon and getting straight to the point, while still meeting all the necessary regulatory requirements.

If I can help you, I will. If I can’t, I’ll say so. I won’t waste your time. This honest, straight-talking approach, combined with empathy and a genuine understanding of each client’s situation is why so many people come back to me time and time again, and why they often refer me to their friends and family.

In today’s world of post-pandemic, post-credit crunch mortgage lending, it can sometimes feel like lenders are doing everything they can to avoid doing business. That’s where my determination really comes into play. If I believe in a case, I’ll go further than most to get it over the line. I don’t give up easily, and I’ll always fight for the right outcome.

What you’ll get from me is honest, impartial advice, delivered in plain English by someone who genuinely cares. You won’t get jargon, waffle, pressure to buy, or broken promises. Just straightforward support from someone who’s in your corner.

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Although they've announced positive changes, Santander has not given much away about what exactly has improved. Could they be one of the first lenders to remove the stress-testing element of mortgage affordability? Those with a very good memory will recall at the start of 2022 that 'mortgage borrowing would get easier' because of the removal of this rule by the FCA. Prudently, not many lenders actually changed their policy on it because it's simply a good test to ensure borrowers can afford their payments if rates increase. And we all know what happened next. Elsewhere, lenders have amended their affordability assessments to account for higher living costs and household outgoings, in line with ONS figures. This has made affordability slightly tougher so it's great to see Santander combat it with a more generous approach.

Benjamin Blyth

I started my career in financial services in 2007. My early days were spent in the branch network, before I passed my mortgage advice qualifications in 2014. I then spent 5 years in specialist mortgage lending with a small regional building society before moving on to lead the intermediary mortgage function at a larger society.

My experience working for specialist lenders has given me valuable understanding of how lenders operate and assess mortgage applications. It’s given me a great insight on the other side of the coin to how I now operate as a broker and this is especially useful when helping arrange complex or specialist mortgages.

In 2018 I graduated from Loughborough University Business School with a Masters Degree in Leadership and Management.

I am fully qualified, holding CeMAP and CeRER qualifications, and am a Certified Mortgage Broker through the London Institute of Banking and Finance.

This is something that needs to happen. Even the referree from Saturday's game against France could spot that affordability is affecting many people's homebuying dreams. Not to mention being a landlord at the moment, you've got more chance of seeing Harry & Meghan having Christmas dinner at Buckingham Palace than you have of passing a buy to let affordability assessment at the moment. Let's hope other lenders follow suit.

Mike Staton

Mike is a multi award winning mortgage consultant and estate agent director. Mikes Mortgage Brokerage, Staton Mortgage & Protection Specialists,  has recently been awarded the UKs Number 1 Mortgage Broker at the 2025 ESTAS Awards and Also the UKs best small broker at the 2026 Mortgage Strategy Awards

This is a reassuring move from Santander and shows that they are still keen to lend in the challenging environment that we are entering. If we also read between the lines, it may also signal that they don't see the base rate going up as much as they first thought or that fixed mortgage deals may continue to fall for a period of time, and that we are over the worst of it.

Jamie Lennox

Dimora stems from the Italian word for Home. This is exactly what we want to help you achieve in having not just a house but a place you can call your own Dimora. We are passionate about helping our customers achieve this goal, which for many may have felt like it would never be possible. We pride ourselves on being there at every step of the process. From taking the first step on the housing ladder, move onto your forever home, to building a property empire of buy to lets. Based out of Norfolk we can assist our clients all across the country. 

Santander - Reduction of residential and Buy to Let affordability rates

4 responses from the Newspage community
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Craig Fish

Director at Lodestone Mortgages

Benjamin Blyth

Director at Houz Mortgages

Mike Staton

Director at Staton Mortgages

Jamie Lennox

Director at Dimora Mortgages

4 responses from the Newspage communityCopy all

4 responses from the Newspage community
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