Borrow £250 to £3,000
- Bad Credit Accepted
- Fast Payout
- No Fees
- Secure Application
Short Term Loans
£250 – £3,000
Rates from 278% to 1576% APR*
3-12 month repayment
£1,050 – £3,000
Whole of Market panel
Trusted panel of lenders
Rates from 5.7% to 278% APR*
3-36 month repayment
Representative example: £500 borrowed for 5 months. Total amount repayable is £991.85 in 5 monthly instalments of £198.37. Interest charged is £491.85, interest rate 238.1% pa (variable). Representative 481.6% APR.
Long Term Loans – Even For Bad Credit
- Longer term loans are popular as they remove the burden of repaying your debt immediately.
- Loan durations are typically over 12 months which results in lower monthly payments.
- They are usually used to finance something bigger than other loan types would allow, including the purchasing of business assets and home renovations.
Long term loans can offer greater breathing space and flexibility to repay your loan over 12, 24 or 36 months.
Moving away from traditional payday loans, many customers can avoid being caught up in a debt spiral by simply choosing to borrow for longer terms, and repaying early if they have the means to do so.
UnsecuredLoans4U offers long term loans from £100 to £25,000 repaid over 3 to 36 months – and anywhere in between. We work over 50 direct lenders in the UK who allow you to choose how much you wish to borrow and how long for.
Our online loan application takes less than 5 minutes to be completed and will give you an instant decision with a provisional loan quote. You can proceed and if successful, you will receive funds within 1 hour or on the same day.
Borrow anything from £100 to £25,000 today.
Quick online application takes minutes.
What Are The Main Benefits?
|Borrow more||You can usually borrow more with a long term loan because you have more time to pay it off. This is perfect for larger expenses such as buying a new car, home improvements, debt consolidation or planning a holiday. Customers can apply to borrow up to £25,000 repaid over 36 months, depending on their affordability.|
|More flexibility||24 month loans and 36 month loans offer more flexibility because you are usually paying a fixed monthly instalment and can budget and organise your finances more effectively. If you want to repay early or make overpayments, you can often do so by contacting the lender directly.|
|Repay early||You may find that you do not need the loan for the entire duration and all the lenders working with UnsecuredLoans4u allow you to clear your debts early. In fact, paying off your loan early will usually save you money, since you are accumulating less interest overall.|
|Finance something large||A loan over a longer term is perfect when you need to finance something big such as substantial home improvement (not quick repairs) or if your business needs some new assets to continue productivity.|
|Longer repayment terms||As the name suggests, the loan duration is substantially longer, so you don’t have the burden of trying to repay it in full the moment you receive the funds. This means you can repay the loan more comfortably.|
Can I Borrow More with a Long Term Loan?
Yes, since you have more time to pay off the loan, you can typically borrow for longer. Lenders will also give you a large borrowing facility because it gives you more time to earn income and help pay off the loan.
The highest loan amounts are typically available to people with the highest monthly income, best credit scores and lowest amount of debt outstanding.
However, note that the longer your loan term, the more interest you will pay overall, since you are accruing more interest.
Can I Get Long Term Loans for Bad Credit?
Yes, there are several long term loans for bad credit histories available and we work with lenders that specialise in bad credit loans and are able to provide different options for recent defaults, arrears and CCJs.
Companies that specialise in loans for very bad credit require you to have a regular income through work (minimum £500 per month) and are able to make your repayments each month.
If you have bad credit, you can add some form of collateral or extra security, such as securing your loan against your car through a logbook loan or adding a guarantor.
If you have a very high value collateral or good quality guarantor this will maximise your chances of approval and the amount you wish to borrow.
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How to Apply for Long Term Loans with No Credit Check
If you apply for an unsecured long term loan, this will usually involve a credit check since the best unsecured loans are based on your income and credit status.
If you are looking for long term loans without credit checks, you can look at logbook loans and loans with a guarantor, since some lenders do not use credit checking as part of their application criteria. Instead, your eligibility is based more on the value of your vehicle or the credit rating of your guarantor.
Apply for Long Term Loans with Direct Lenders
At UnsecuredLoans4U, we work with direct lenders only so you can be rest assured that your information will be sent to a lender who is actively and readily looking to fund your loan.
We are passionate about responsible lending and can confirm that your details will be held safely and securely and not passed onto multiple third parties.
We proudly match your loan requirements with the direct lender mostly likely to accept your loan. If you wish to proceed, all correspondence thereafter including contact, funding, repayments and more will be handled with the direct lender and there are no other middlemen involved.
It also means that there are no upfront, broker or administration fees involved and the only charges you will see are the ones for your loan.
Our loan application is fully online and can be completed 24 hours a day, 7 days a week using your desktop, phone or tablet. We offer long term loans with instant decisions and successful customers can usually receive funds on the same day or within the same week if borrowing larger amounts.
More FAQs About Long Term Loans
How many repayments are needed for long-term loans?
The amount of repayments needed to settle your long-term loan in full will depend on how much money you borrow and the amount of time you need to repay it. If you’re borrowing a larger sum of money, you can repay it over up to 36 months in many cases.
Can I apply with no credit history?
These days, lenders are more willing than ever to assist individuals with loans if they have not yet had the opportunity to build a good credit history. However, you will need to inform your lender when applying for your long-term loan.
Will I get my loan immediately?
After completing your application form and submitting it, a process called auto decisioning will be used to determine whether you qualify for a long-term loan or not. If your application is approved, you can often access this much needed cash in as little as 15 minutes to an hour or two at the most.
What if I miss a repayment?
Unfortunately, any missed loan repayments will result in heavy penalties being levied on the amount of money you still owe on your loan. Over time, that will add up and result in serious financial problems. As such, you must do everything possible to ensure that you repay each loan instalment on time or even before its due date if possible.
Can I apply with benefit income only?
Most definitely! Most lenders will be willing to assist you with a long-term loan without a guarantor if you are only receiving benefit payments as a form of income. However, this income will need to be received consistently and it will have to be of a sufficient amount to cover the amount of money you want to borrow.