Santander Loans

Santander is an outstanding international bank with a significant presence in the financial industry. Known for its diverse range of banking services, Santander offers personal and business solutions, including savings and checking accounts, loans, mortgages, and investment options. With a commitment to customer satisfaction, Santander is recognized for its global reach and innovative financial solutions.

Santander offers a variety of loan products, providing flexibility in both loan amounts and repayment durations. These loans feature representative APRs ranging from £1,000 to £25,000, with repayment periods of 12-60 months and APRs varying between 6.30% and 26.90%.

Among the offered loans, Santander includes:

• Personal Loan
• Car Loan
• Home Improvement Loan
• Debt Consolidation Loan
• Special Occasions Loan (holiday, wedding, etc.)
• Student Loan
• Mortgage
• Business Loan
• Bridging Loan
   

What are the terms and conditions for obtaining a loan in Santander for your type of credit? 

Personal Loan

Borrow between £1,000 and £25,000, with fixed monthly payments over a period of 12 to 60 months.

Personal Loan Rates

Loan amount	Illustrative APR
£1,000-£2,999	13.5%
£3,000-£4,999	10.8%
£5,000-£7,499	7.4%
£7,500-£15,000	6.3%
£15,001-£20,000	6.4%
£20,001-£25,000	6.4%

This table shows the rates based on specific loan amounts. Santander's offered rate is subject to individual circumstances. The highest APR for any loan is 26.9%.

Car Loan

Whether it's your first car or an upgrade, a personal loan offers freedom to purchase without mileage restrictions. Since personal loans aren't tied to your car, you can freely sell or exchange it anytime.

Car Loan rates, interest, and APR are the same as Personal Loan. Loans are available in a range from £1,000 to £25,000, with the option to repay over 1-5 years.  Representative APR of 6.3% for loans ranging from £7,000 to £15,000. 

Home Improvement Loan

A Home Improvement Loan lets you fix up your home and might make it worth more. It helps with the initial costs, and you can pay it back bit by bit each month.

Home Improvement Loan rates, interest and APR are the same as Personal Loan. Loans are available in a range from £1,000 to £25,000, with the option to repay over 1-5 years.  Representative APR of 6.3% for loans ranging from £7,000 to £15,000. 

Debt Consolidation Loan

If you have debts from different places like credit cards and loans, a debt consolidation loan combines them into one. Once approved, pay off everything with a single monthly payment. It simplifies managing debt and may reduce interest at a lower rate.

Debt Consolidation Loan rates, interest and APR are the same as Personal Loan. Loans are available in a range from £1,000 to £25,000, with the option to repay over 1-5 years.  Representative APR of 6.3% for loans ranging from £7,000 to £15,000. 

Special Occasions Loan

If you're preparing for a special event, such as a wedding, dream vacation, or any significant milestone, this loan can turn your plans into reality. The rates remain the same, whether it's for a holiday, wedding, or any other special occasion.

Special Occasions Loan rates, interest and APR are the same as Personal Loan. Loans are available in a range from £1,000 to £25,000, with the option to repay over 1-5 years.  Representative APR of 6.3% for loans ranging from £7,000 to £15,000.

Mortgage

Santander provides a variety of mortgage products, including fixed-rate and adjustable-rate options for home purchases and refinancing. They also offer FHA loans and programs to assist homeowners facing financial difficulties, such as refinancing and repayment plans​ (Santander Bank)​​ (Santander Bank)​.

Business Loan

Santander's business loan portfolio includes:

• Business Term Loans: Available up to £1,000,000, with repayment terms extending up to 10 years, suitable for funding new projects and equipment purchases​ (Santander Bank)​.
• SBA Loans: Tailored for small businesses, these loans come with flexible terms for various purposes, including real estate and equipment investments​ (Santander Bank)​.
• Commercial Real Estate Loans: These loans are designed for businesses looking to buy or refinance commercial properties​.

Bridging Loan

Santander offers bridging loans as short-term financial solutions for urgent needs like property purchases at auctions. These loans range from £25,000 to £25,000,000 with flexible repayment periods of 2 to 36 months. Typically, funds can be accessed within 5-7 business days​.
 

There's also an option for Early Loan Repayment. However, settling the loan in full before the final due date incurs an additional 30 days of interest. If there are two or fewer remaining repayments, settling early may not be as cost-effective.

Loan approval depends on your financial standing. To qualify, you must be 21 or older, have an annual income of at least £10,500 (for loans up to £19,999) or £20,000 (for loans between £20,000 and £25,000), and meet employment, residency, and credit history criteria.

Certain purposes are restricted for loan use, including:

• House deposits
• Bridging negative equity
• Buying property or land in the UK or abroad
• Cryptocurrency
• Household bills
• Living expenses
• Child maintenance payments
• Personal tax bills
• Time-shares
• Stocks and shares
• Gambling
• Borrowing on behalf of a third party, unless given as a genuine gift
• Equity transfer
• Capital raising
• Any business purpose

In conclusion, Santander offers various loans for personal needs, cars, home improvements, consolidating debts, and special occasions. You can choose the loan amount and repayment time that suits you. However, remember there are specific rules about how you can use the loan.

Please Note: This content is based on information as of January 2024. For the latest updates and specific terms, we recommend contacting Santander directly by visiting their website.