12 Month Loans
If you’re looking for 12 month loans, you may be looking to consolidate a number of smaller loans to reduce the cost of your monthly repayments or to borrow higher loan amounts. Either way, it’s a good idea to get the facts straight before you apply.
What are 12 Month Loans?
A 12 month loan is an instalment loan, where a loan is borrowed and paid back in fixed monthly instalments over a year. A short term loan can provide useful access to cash during unexpected emergencies. Our 12 month loans will help you avail following benefits that do not come with other short term loans like payday loans:
- Flexible repayments
- Fixed monthly instalments
- Help in building credit
- Lower interest rates
- No hidden fees
- Ideal for any unexpected expense
How much do 12 Month Loans cost?
The amount of interest that you repay on your loan will vary depending on various factors. Your previous credit history is one factor; having a lower credit score will impact the amount of interest you pay back as you are considered a higher risk for borrowing.
The lender rates that we work with have various APR rates. However, a representative example could be: Borrow £600 over 12 months @ 292% pa (fixed) Total repayment: £1,200 in 12 monthly payments of £100.00. Representative 1261% APR.
Will you perform a Credit Check?
If you are approved by a lender, then the lender will perform a credit check if you decide to go ahead. So if you’re looking for 12 month loans no credit check, we regret to say that there is no such thing. Every lender has to perform a credit check. However, don’t let that put you off applying as we work with numerous who can still help even if you’ve previously been declined.
What do I need to apply?
Whether you have an unexpected bill, an essential purchase or an emergency, a loan could help. To apply, you will need to complete our simple application. You will also need to be aged 18 years or above and a UK resident.
Don’t worry if you have bad credit, we can still help those searching for loans for bad credit. It’s important that you complete the application form with the correct details. As incorrect details may impact the decision that you are given.