With so many borrowing options out there, finding the right one for you can be a tricky task. Here we’ve outlined some options – explaining the ins and outs of each one. You can also visit our Personal Loan repayment calculator to see how your repayments could work out.
| Product |
Type of borrowing |
What is it used for? |
Repayment term |
|
Unsecured |
Anything from one-off purchases to debt consolidation of up to £20,000 |
Fixed monthly repayments from 1 to 5 years |
|
|
Secured |
On-off large purchases from £5,000 up to 85% of the value of your home |
Up to and even beyond your current mortgage term |
|
|
Unsecured |
Day to day flexible borrowing |
Flexible and continuous |
|
|
Unsecured |
Day to day flexible borrowing |
Flexible and continuous |
|
What can you afford?
The idea of budgeting may seem a little boring, but when you're taking out any new loan it's essential. A simple way of working out how much you can afford is to deduct your outgoings from your income - and remember to be realistic. Always take into account any existing borrowing when taking on new commitments.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE.
Santander UK plc, which is authorised and regulated by the Financial Services Authority (Authorisation Number 106054), except in the respect of its consumer credit products for which Santander UK plc is licensed and regulated by the Office of Fair Trading, acts as an Insurance Intermediary for General Insurance
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