Santander loans features:
- Borrow from £1,000 to £20,000
- Repayment periods of 1 to 5 years
- No arrangement or set up fee
To be eligible for Santander loans you must:
- Be at least 21 years old
- Permanently live in the UK
- Have a regular income of at least £6,000 a year
- Not have been declared bankrupt, had a CCJ or IVA in the last 6 years
- Not be intending to use the loan for the purchase of property or land, payment of utility bills, payment of tax demands, gambling or to fund any illegal activity.
Santander’s maximum loan size is £20,000 for a personal loan however that does not guarantee you can borrow this amount. How much any lender is willing to loan you will be dependent on your credit score and an assessment of your other financial circumstances such as how much you earn and if you already have any credit commitments.
The Santander loan calculator tool may be able to give you an idea of what your repayments on a personal loan would be. You just need to enter the sum you would like to borrow as well as how long you want the repayment term to be, it is important to understand however that if you do apply for a Santander loan your annual percentage rate, which affects how much the loan will cost you, may differ from the one the calculator used. This is because lender’s will tailor the specific APR they offer someone based on an assessment of their financial circumstances, taking into consideration things like their credit score, how much they earn and if they already have any other credit commitments.
Before you take out a personal loan
Loans can be long term commitments so it wise to consider all of your available option before hand, including alternatives to borrowing such as using savings.
When comparing different loans consider, which would be most appropriate to your specific needs such as are you intending to pay off the loan early or make over payments, if so look for a plan which will permit you to do this.
Whether you are looking to consolidate your debts, make some home improvements or pay for a holiday, you may be wondering if a loan from Abbey National is the right choice for you. As Abbey National is now part of Santander Abbey loans are not available, however a Santander loan might be the right alternative for you, before you decide you can use the comparison tables below to compare loans from numerous different providers to help you assess what the best option for you might be.