If you need to borrow money but need to repay the full loan amount over a longer period of time, a 12 month loan could be the best option for you. If you’re looking for an even longer period, take a look at our 24 month loans .
Life is unpredictable, we all learnt that from the pandemic, but financial surprises can increase stress and worry. If you need cash quickly, consider applying for a 12 month loan — after your application is approved, you can see the cash in your bank account in as little as 10 minutes².
Read more about 12 month loans below.
A 12-month loan is a short term loan that is usually repaid within 1 year over twelve monthly instalments. Something to be aware of is that the longer the term of your loan, the more interest you’ll pay — so make sure you factor this in when considering the length of your loan.
You can use your 12 month loan to pay for whatever you want. Short-term loans like these are more flexible than traditional loans, which means lenders aren’t fussed about how you spend your money.
So whether you’ve got some home improvements planned, you’re repairing your car, or you’re consolidating your debt — you can use your loan for any of it.
Every lender’s criteria differ, but if you meet the below direct lender criteria, then you could qualify for a 12 month payday loan:
Yes. We work with a range of bad credit lenders who can offer loans over 12 months loans for bad credit. So don’t let your poor credit history put you off applying. All the lender wants to see is that you have a steady income and can realistically afford to pay the loan back in the required period.
No, every lender will check all applicant credit scores — it’s just part of the process. Their investment needs to be protected, which means they’ll check your financial circumstances and your credit history. If they’re willing to lend to you, you should receive an instant decision.
Usually, you won’t need to provide a guarantor for a 12 month loan. If, however, the lender has concerns about your credit history, they might require a guarantor. In which case, you might be better suited to apply for a guarantor loan.
We offer loans from £100 to £5000. But the amount you receive will be based on what you can afford and your financial circumstances. Once you’ve received your cash, you’ll repay the lender in monthly instalments.
Remember: Defaulting on your monthly repayments can cause you serious money problems. Need free money advice? Visit Money Helper (formerly the Money Advice Service).
You can apply for a 12 month loan from a direct lender through their website; it’s a straightforward process. Alternatively, you can use a credit broker like us. At ThisLender, we’ve helped thousands of consumers secure the instant funding they need.
Fill in our short form and tell us how much you want to borrow and for how long, and we’ll get to work finding the perfect lender for you. We only work with UK lenders who are authorised and regulated by the Financial Conduct Authority (FCA).
Our services are 100% free for you to use and they save you time otherwise spent trawling direct lender websites.
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Access from £100 to £5000†APPLY NOW
Representative 97% APR (fixed)
Representative example: Borrow £1000 for 24 months at 24 equal instalments of £77.48. Total amount to repay £1,859.52. Interest £859.52. Annual interest rate 70% (fixed). APR rates range from 45.3% APR. to 1575% Max APR. Your APR rate will be based on your circumstances.
We are not a lender but a licensed credit broker in the UK