Santander Loans

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Santander offers a collection of different loans for various types of borrowing, including car finance, home improvement loans and debt consolidation. 

Santander offers both unsecured personal loans and secured loans aimed at those who already have a mortgage. Depending on how much you need to borrow and how long for, it may also be worth looking at extending your current account overdraft or taking out a new credit card.

Whatever type of borrowing you are interested in, it is crucial to make sure you know everything you can about your various options. This will allow you to make an informed decision and make it much less likely you will be hit with any surprises further down the line.

Santander personal loans

Personal loans tend to offer smaller amounts over relatively short periods. The application process is normally fairly fast and straightforward, so personal loans can be an attractive way to unlock additional funds when you need them.  

Advantages of Santander personal loans

• Borrow from £1,000 to £25,000

• Repay over 1-5 years

• Fixed monthly repayments

• Apply online and you should get a decision within minutes

Restrictions on Santander personal loans

• You must be 21 or over

• You must be a UK resident

• Your credit rating could be affected if you do not stay on top of your loan repayments

• Failing to repay your loan could result in a court-appointed bailiff seizing your possessions to cover the outstanding balance

Borrow more with a secured loan

If you are seeking to borrow more or for a longer period, a secured loan could be the best option. Santander offers loans secured against a property to existing mortgage holders which they refer to as Additional Loans.

How Santander Additional Loans work

• Minimum loan of £5,000

• Borrow up to 85% of the market value of your property, minus the cost of your existing mortgage

• Borrow for between 5 and 35 years

• Interest rates can be more favourable than for unsecured loans, all though this depends on various factors

• If you fail to make your monthly repayments, you may be required to sell your property to cover the outstanding balance

To find the best deals on secured loans from across the market, head over to our secured loan calculator.

Need to borrow more than £25k?

If you need to borrow a larger sum, making sure you get the very best deal on your finance is essential. This is because, the more you borrow, the greater impact a higher or lower interest rate can have on the final amount you end up paying back.

With so many brands and loan types on the market, however, knowing which best matches your needs and personal circumstances can be very hard.

For borrowing over £25,000, secured against a property which you intend to improve, our specialist team of loan advisors can help. To find out more, simply call Fair Mortgages on 0117 403 4474 or use our contact form for a quick response.