Santander personal loan key information
- Borrow from £1,000 to £20,000
- Choice of repayments terms between 1 and 5 years
- No set up or arrangement fees
- You need to be at least 21 years old
- You must have a permanent address in the UK
- You cannot have been declared bankrupt or had a County Court Judgement in the last 6 years
- You cannot 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.
Whatever the motive for your loan, your key priority before getting a loan is probably finding out exactly how much it will cost you. The Santander loan calculator may be able to help you, you can enter how much you want to borrow as well as how long you want to make repayments for and the tool will tell you both what your monthly repayments would be as well as how much you repay in total. A loan calculator can only give you a guide however, this is because lenders may tailor the annual percentage rate they are willing to offer you once they have made an assessment of your financial circumstances and checked your credit score.
The same assessment will also affect exactly how much a lender is willing to let you borrow, although the maximum amount you can borrow with a Santander personal loan is £20,000 they will not allow everyone to borrow that amount.
As with other financial products like current accounts and credit cards interest rates on loans and other terms and conditions vary hugely between the different plans and lenders. Therefore before you settle on a loan, look at many different providers to try and find what the best option for you is. the comparison tables above may be able to help you.
Homeowner loan – If you own your home, even with a mortgage, and wish to borrower a larger sum of, then a homeowner loan may be a suitable option. Homeowner loans require you to put your home up as security on the loan, because of this added level off assurance lenders usually allow borrowers larger sums of money, typically up £250,000 they also usually offer longer repayment periods and may have lower annual percentage rates. Homeowner loans are not for everyone however and if you fail to keep up with your repayments the lender can repossess your house.
If you want to borrow some money you may be wondering if you could benefit from an Alliance and Leicester loan. Alliance and Leicester loans are not currently available as they have become part of Santander, however a loan from Santander or another lender might be the right alternative for you, use our free comparison tables below to see some options.