12 Month Loan

Finding the right loan lender can be quite complicated especially if you haven’t tried applying for any loans before. It is important that you find the best one to fully enjoy the benefits of the loan you wish to apply for. Since most loans today are readily available online especially those loans which you could get fast cash out, you will surely find the most reliable names of lending companies on the web as well. Read on and learn some simple methods that will help you choose the best 12 month loan option for you.

What are 12 Month Loans?

This is a loan that you can fall back on when you have financial emergencies. However, in this case, the lender gives you a longer time to repay the loan. This makes it more convenient for you and increases the chances of you not defaulting on the payment. With a loan over 12 months, you can borrow up to £1,500 and still have ample time to pay back the loan without stress.

Can I complete my application online?

With the presence of easy digital application formats, most loan applications can now be completed online. Once you have all of the required document and information (Personal details, monthly income, and bank details), fill them into the appropriate place, and you will be met with a decision almost instantly. You do not have to make any phone call, everything you need will be online including customer support.

Am I at a disadvantage if I have bad credit?

While we will encourage you to try to improve your credit ratings, some lenders will still be willing to offer you the loan despite your bad credits. However, it is common financial conduct for lenders to carry out a loan affordability check before they give out a loan. This means that lenders will still assess your ability to pay back the loan before they grant you the loan amount.

How do I qualify for a 12 Month Loan?

If you wish to apply for this loan, below are the criteria for qualification:

  • Should be above the age of 18.
  • You must live in the UK.
  • Must have a bank account number and have a card linked to it.
  • You must be in a paid employed or have a stable means of income.

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