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Business Banking frequently asked questions

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Answers to your questions about our products and services

Get an instant answer to your question by viewing frequently asked questions about our products and services.

Frequently asked questions

  • To check the progress of a Business Loan or Overdraft application, call us on 0800 313 4481. Lines open 8am to 6pm Monday to Friday.

  • You can repay all or part of your Business Loan at any time. Early repayment charges may apply. To find out more speak to our Lending Team on 0800 313 4481. Lines open 8am to 6pm Monday to Friday.

  • We can provide an indicative cost by using the 1|2|3 Business World Loan or Business Loan calculator which uses a representative rate. If you wish to know the rate of interest we would offer you on your loan you will need to complete a full application which will include a search at a credit reference agency.

  • The payment will not be made and you will incur a £15 unpaid item fee.

  • You will be notified of charges 14 days before they are debited from your account.

  • There are no arrangement fees for setting up a Business Loan. Early repayment charges may apply.

  • Once we have approved your Business Loan, we’ll send you a loan agreement to sign and return. Once we have received this we’ll transfer the money into your account.

  • Yes, the interest rate and repayments are fixed so you know exactly what you will be repaying each month.

  • Yes, you can. Personal customers can apply to LeasePlan Go, as they can offer vehicle contract hire lease to any Santander customer. LeasePlan Go can also process referrals for family and friends.

  • Vehicle finance through LeasePlan Go - you won't own the vehicle at the end of the lease period. The vehicle is returned to LeasePlan Go at the end of the pre-determined period (2-5 years). You can then order your next replacement vehicle.

    Equipment finance through Macquarie - you won't own the asset at the end of the lease period and Macquarie will discuss the options with you at the end of the lease. For example, you may choose to negotiate an extension period (1-2 years) to keep the asset for longer, or you may want to return the asset back to Macquarie in return for a newer asset. If you choose Hire Purchase, you do have the option to purchase the asset for £100 at the end of the funding period.

    However, if you purchase the asset using cash or an unsecured business loan you will always own the asset.

  • LeasePlan Go only finance new vehicles.

    Macquarie can finance second hand assets as well as new ones, providing they are from an established provider.

    Neither LeasePlan Go nor Macquarie can refinance existing assets.

  • From 48 hours to a few weeks, depending on:

    • The extras (servicing, training costs etc.) needed.

    • The type of asset.

    • How long it takes to deliver the equipment.

    • Lower fixed monthly payments: the providers own the asset, which keeps customer costs down and helps keep control of spending.

    • No upfront payment: although LeasePlan Go has a small initial deposit.

    • With leasing solutions, customer doesn't normally own the asset and can avoid depreciation costs, saving time and resources.

    • Greater flexibility and choice: customers can choose a fully serviced solution, amend/upgrade contract and include setup or training costs too.

    However, if you purchase the asset using cash or an unsecured business loan you will always own the asset.

Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register. Santander and the flame logo are registered trademarks.