Use our AI loan finder to get a better rate bridging loan than Santander
Santander Bridging Loan
Want a better rate than Santander? Get an instant indicative repayment figure using our bridging loan calculator
Use our bridging loan calculator to quickly compare rates with Santander bank. Gain access to the best bridging loan rates sourced in the UK.
Formerly Sovereign Bank, Santander Bank is a wholly owned subsidiary of the Spanish Santander Group. Established in Spain and today headquartered in Boston, USA, Santander continues to show a growing commitment to technological innovation and product flexibility. Santander is also the international banking group with the largest branch network, with an impressive 14,680 branches worldwide.
Bridging loans from Santander
Bridging loans are generally used for property transactions. This type of loan is designed to help home movers who would like to acquire a brand new house achieve their goals while their existing house is on the market.
When equity happens to be locked up in a mortgage, bridging finance can be used to finance the purchase of a property. These loans can be particularly useful for homeowners, developers, and people who are purchasing a property at auction.
Those moving houses might wish to use a Santander bridging loan to avoid a property chain so that they can acquire a new house while awaiting a mortgage decision. However, it is important that you keep in mind that taking out a bridging loan does not guarantee you will obtain a mortgage in the future.
Bridging loan calculator explained
Our online bridging loan calculator is intended to provide an example guide to every cost associated with your short-term finance facility. However, each lender uses different criteria to calculate the various fees they charge. We’ll always offer the finance facility that gives the best possible rate in accordance with your circumstances.
A bridging finance calculator is similar to a mortgage calculator, but instead of calculating monthly repayment figures, a bridging loan calculator gives information about the monthly interest charged and the lender’s facility fee. It’s essential that you note that the interest figure is the interest amount charged only, meaning it doesn’t include any capital repayment. The interest charges on a Santander bridging loan can be set up so they’re either paid monthly or added to the bridging loan amount and paid off when the loan is redeemed.
How does a Santander bridging loan compare with a regular bank loan?
Theoretically, they differ because bridging loans are used for short-term purposes, whereas normal loans typically have a more general purpose. In reality, the speed of getting the cash transferred to your account is the major difference between these two loans. It can take weeks for high-street lenders such as Lloyds, Barclays, or NatWest to complete a loan, whereas bridging finance can be obtained in one or two days due to their more relaxed eligibility criteria.
How much will a bridging loan cost?
Adding up fees, interest, and the loan amount ought to give you a good idea of the overall cost of borrowing.
- Bridging loan size: Bigger loans tend to have higher interest rates because they pose a greater risk to the lender.
- Repayment terms: If you’ve chosen a closed bridging loan and you have set a concrete repayment date, the length of your santander bridging loan may affect your interest rate, with longer-term bridging loans subject to much higher interest rates.
- Property value: The value of your security will also affect the rate of interest applied to your bridging loan. The more risk lenders face, the higher the interest rate will be. This is classified as the loan to value.
| Browse all Santander comparison services | |
|---|---|
| Santander Bridging Loans | Santander Commercial Finance |
| Santander Development Finance | Santander Loans |
| Santander Mortgages | Santander Auction Finance |
Apply for a bridging loan online
The first step in applying for a bridging loan is to enter your basic details—the property you’re offering for security, the type of bridging loan you are wanting, your name, etc.—into our online loan application. When we have received your application for a bridging loan, we will be in touch to arrange online appointments as needed to discuss further details that we will need to process your application. We can work around you and your availability as our processing team is open till late.
Typical costs based on 0.55% rates over 12 months
| Bridging Loan Amount | Repayment Amount (excluding broker fees etc) |
|---|---|
| £50,000 | £59,254 |
| £60,000 | £70,148 |
| £70,000 | £81,042 |
| £80,000 | £91,936 |
| £90,000 | £102,829 |
| £100,000 | £113,723 |
| £110,000 | £124,836 |
| £120,000 | £135,948 |
| £130,000 | £147,060 |
| £140,000 | £158,172 |
As previously noted, the majority of bridging loan lenders do not deal directly with the general public, thus in order to obtain a bridge loan, you will typically need to go through a loan broker. For the purpose of managing bridge loans, which are only available through brokers, high street banks typically maintain distinct companies.
Let our AI software compare rates for bridging loans against high-street banks and other institutions:
