Santander Loan Enquiry

fed_up_with_debt

I have a question I'm hoping some of the loan experts can answer.

We've recently taken a loan from Santander for £5000 at 6.8% APR. the repayments are £222.95 over 24 months.

The early repayment section says that it can be repaid in full or in part at any time and that we may do this by making an early settlement request.

I'd like to pay more each month when possible, maybe £300 - £350. Is this possible with Santander?

R_P_W

Ask Santander?

fed_up_with_debt

Yeah, we're waiting on the money hitting the account so don't want to ask just yet. I was hoping someone would have been in this position and might know.

Cash_Flow

You can over pay but you will be charged for doing so in most cases. Your credit agreement will give you all the information you need.

fed_up_with_debt

Thank you. I'll check it out.

emmak56

fed_up_with_debt wrote: »

I have a question I'm hoping some of the loan experts can answer.

We've recently taken a loan from Santander for £5000 at 6.8% APR. the repayments are £222.95 over 24 months.

The early repayment section says that it can be repaid in full or in part at any time and that we may do this by making an early settlement request.

I'd like to pay more each month when possible, maybe £300 - £350. Is this possible with Santander?

Hi you can make over payments on a santander loan as and when you like with no charge, you then have a choice to either reduced the monthly amount you pay or the term you repay over.

fed_up_with_debt

emmak56 wrote: »

Hi you can make over payments on a santander loan as and when you like with no charge, you then have a choice to either reduced the monthly amount you pay or the term you repay over.

Thank you, very helpful.