Major bank insists it's here to stay – and brokers are at the forefront of its plans
Santander for Intermediaries has introduced three new broker pledges for 2025, reaffirming its commitment to the UK mortgage market and dismissing speculation about a potential exit or sale.
The pledges aim to address common challenges faced by brokers and provide greater transparency in the lender’s processes. They include:
- No dual pricing – Brokers will have access to Santander’s best pricing across purchase, remortgage, and product transfer clients.
- Minimum 24-hour notice for product withdrawals – The lender will provide brokers with at least one day’s notice before withdrawing mortgage products, allowing time to inform affected clients.
- Enhanced product transfer process – Santander plans to improve clarity around product transfers, including new web resources outlining the process. The bank will also update its product maturity letters, ensuring clients are directed back to their brokers when their current deals are set to expire.
“Our ambition is to make it easier than ever for our broker partners to do business with us,” said David Morris, head of homes at Santander UK. “We take the first step today, as we unveil our broker pledges, setting out exactly how we plan to help relieve common frustrations for intermediaries.
“But it doesn’t stop here. We will continue to review our processes and listen to our broker community throughout 2025 to identify ways in which we can develop how we work together to support clients.”
The announcement follows recent speculation about Santander’s future in the UK, sparked by reports of a strategic review of its operations. Concerns intensified after Santander UK chairman William Vereker unexpectedly announced that he would be stepping down later this year. However, the lender’s latest move appears to signal a firm intention to remain active in the British mortgage market.
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