Quite a lot of things have to go very wrong before a bank will call a mortgage, if only because they tend to be the least leveraged loans on a bank's balance sheet; there are riskier corporate credit lines that would be withdrawn first after blowing though a range of insurance / first loss swaps and BoE liquidity windows available to them. It would also be commercial suicide because nobody would ever borrow from them again.
Sounds like the 123 account was unsustainably generous?
Again, agreed, I guess my concerns are the challenges Santander have been having in Brazil and back home in Spain over the last couple of years.
Also, I think I've been spending to much time watching the Baltic Dry Index. It's got me a bit paranoid (about everything).
In any case gangzoom has clearly had a good work through the figures. If he's happy with the numbers, that's the main thing.
That index will give you grey hairs, best avoided!