Santander Mortgages

Discussion in 'Finance, Property, Law' started by FARMBOY, May 18, 2012.

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  1. Just been looking at the papers this lunchtime and wondering with news about Santander and Spain what would happen to Santander Mortgage customers should things go "Northern Rock"?
     
  2. Quite simple really. All existing contracts become void and whomever takes on this 'bad debt' will put all borrowers on to SVR (Spanish SVR) rates until the mess can be sorted.
     
  3. Mmmmm - it might be time to call the broker!
     
  4. Funny my partner mentioned this to me last night and it got me twitching a bit, but aren't they covered by UK laws or something, someone give me a bit of hope after Cameron has raped my pension I don't want the spaniards keeping my house.
     
  5. According to the news on R4 this am the FOS have told Santander(UK) they cannot transfer any funds to Spain.
     
  6. A mate has said something about the UK element of the Mortgage business being "separate" but when a company goes bump international borders never seem much of a protection. I'm thinking Lehmans etc.
     
  7. I was just about to tell you to go to the NAAFI with your comments till I read the rest of your post Jarrod.
     
    • Like Like x 1
  8. According to what was being said on the Today programme this morning it is as per Sunami's post above.

    The UK arm of Santander is a completely seperate legal entity from the Spanish side of things and could only be dragged into the mess if our Govt gives permission - which it won't.

    One of the utility companies I use banks with them, it's either Wessex Water or the gas people, can't remember which, and there's no way HMG are going to put businesses like that in danger when they are currently safe.
     
    • Like Like x 1
  9. ugly

    ugly LE Moderator

    If a bank does go to the wall then all its assets can be bought, that would include its debts, loans and mortgages. I wouldnt worry as mortgaged property is still a reasonable safe bet and you would receive a degree of protection under UK and Eu laws. I actually wonder if the parent went pear shaped that the UK arm would be affected? If it did I would be happy to see Call Me Dave drop them like a hot potato. there is no real need to support failing financial institutions with our taxes.
    I have a mortgage with Northern Wreck and I wish they had gone to the wall instead of causing the mess that engulfed the country. It may have been enough to warn tthe other banks to behave but NO those commy scottish ***** are always free and easy with other folks money the one eyed ****** (please note other forms of ******* including ones with 2 eyes such as badger head Darling and Ed No Balls are also available to be slagged off!).
    There I feel better now!
     
  10. Santander are a bunch of *******, I spent 22 months trying to get a monthly staement organised through them, fine when it was Abbey National, but as soon as the takeover came, zip. In the end, I took all my cash elsewhere (after being fked around by Santander for 2 months trying to get it out as well) :pissedoff:
     
  11. ugly

    ugly LE Moderator

    Sounds like a quality organisation then!
     
  12. Santander took it upon themselves to mark my credit file with a financial association that did not exist & when I took them to FOS they claimed they had every right as I had an a/c with them.

    The fact was I had an a/c with Bradford & Bingley which they had bought. The a/c had been dormant although in credit for nearly ten years and the association they entered had nothing whatsoever to do with me. It took two years but FOS upheld my complaint & Sanatander had to pay restitution for libel.
     
  13. No, I'm not the poster, but I had to snigger.......



    bloody banks!!! they are useless! Today to my horror i discovered that a Lloyds TSB business loan which was due to be fully repaid in 6 months, was "accidently miscalculated" by their business loans department!!

    Mis-calculated!? The silly bastards forgot to add the bloody interest it now transpires! The whole process of applying for, drawing up and signing of the agreement went through without them realising they hadn't added the interest!

    Total frigging cretins!

    your money would be safer up a goats arse.
     
  14. Well if they neglected to add the interest figures in the agreement you both signed then it's tough on them, they have no further claim. If you made the repayments as per contract you have fullfilled your part of the bargain.