Long Term Loans

How much do you need?
£2,500 £5,000 £6,000 £8,000 £10,000 Other

Affordable £2,000 to £25,000 Online!

Representative Example: Borrow £10,000 for 24 months, 24 monthly repayments of £578,37. Total repayment £13,880.88, interest rate p.a. (fixed) 39.7%. Representative APR 39.7%.

Application takes
3 minutes
UK lender
Call us: 020 3946 6777
Bad credit

5 Things You Need To Know About Our Online Long Term Loans:

  • Yes, we are a direct lender and our loans are 100% online.
  • Yes, you could get approved for up to £7,500 with bad credit.
  • Yes, our interest rates are much lower than payday loans.
  • Yes, you can apply for up to £25,000 without a guarantor.
  • Yes, our website uses bank-grade
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What Is A Long Term Loan?

A long term loan is paid off over an extended period of time, usually of more than one year. Long term finance involves borrowing money over a specified period with a pre-planned payment schedule. You can get long-term credit online ranging from £2,000 up to £25,000 dependant on your credit score. The extended repayment periods mean that you will pay less every month, making these loans more affordable for many people in the UK. You can apply for long term loans here with Personal Loans Now.
Looking for a long term online loan? Get one with Personal Loans Now.

Long Term Loans For Bad Credit

Our specialised online loans are available for people with poor credit, even without a guarantor. Sometimes people in the UK refer to extended repayment periods as an instalment-loan. These loans are repaid in smaller instalments rather than one lump sum, and the loan duration is longer than a short-term loan. For instance, the borrower may choose to repay the loan over a 12 month period.

How Fast Can I Get My Money?

In most cases, you will get the money in your bank account the same day if you are approved for long-term credit. Our online loan application form takes just a couple of minutes to fill out, and you will always get an instant decision, after which payment can be in as little as 24 hours.

How Long Can I Borrow Money For?

You can borrow long-term credit from us during periods of between 3 months, and up to 60 months. Additionally, there are some lenders who offer much longer terms, up to 10 years or more, however, these are typically designed for larger loans, such as mortgages.

Can I Get Approved With No Guarantor?

We offer long term loans online without a guarantor. We provide loans to people we trust can repay the loan through conducting thorough affordability checks, and don’t require you to go through the extra hassle and paperwork of finding a guarantor.

Can I Get A Long-Term Loan If I Have Bad Credit?

Yes, you can get long-term finance with bad credit, but it may take longer to find the right loan. Some lenders offer loans to all types of people regardless of their credit score, as long as they can afford to make the loan repayments. We always recommend that you try to improve your credit rating before applying for a loan.


What Are The Disadvantages Of Long Term Personal Loans?

The main disadvantage of long-term credit in the UK is the early repayment charges. Long-term loans direct lenders may charge you for repaying your loan early, so check lenders’ policies before taking a loan. Also, it’s important to be aware that many lenders charge a fee for missed payments. Always make sure you understand exactly what your obligations are before you go ahead with an application.   See the impact of paying back over a longer period in this example:  
Loan Loan period APR Monthly payment Total payment Cost of loan
£5,000 2 years 39.7% £287.67 £6904.04 £1904.04
£5,000 5 years 39.7% £153.85 £9230.72 £4230.72
Loan £5,000 £5,000
Loan period 2 years 5 years
APR 39.7% 39.7%
Monthly payment £287.67 £153.85
Total payment £6904.04 £9230.72
Cost of loan £1904.04 £4230.72
You can see the monthly payments are much more affordable when you repay your loan over a longer period. However, the overall cost of the loan increases with the length of time. When you’re considering long-term credit, it’s important to choose the length of time that is most affordable for you. Furthermore, if you do take out long term personal loans for bad credit, make sure you fully understand the terms of the loan and can afford the repayments.  


Can Direct Lenders Provide “No Credit Check” Option?

Lenders who offer long-term loans with no credit check are probably not following the FCA responsible lending guidelines. You can’t be sure that it’s safe to entrust these lenders with your confidential details. In contrast, we always carry out credit and affordability checks for all of our applicants. Your safety is our priority, and we want to ensure that providing you with a loan won’t harm you financially, as this would be irresponsible.

What Should I Consider Before Applying Online?

Before taking out long-term personal loans online you should consider the following:
  • If the loan is secured or unsecured: Some long-term loans are secured against your property, especially if you are borrowing for longer than 5 years.
  • The type of interest rate: Most personal loans UK offer fixed rates, but some longer-term credit options have variable rates. Variable rates mean that the rate can change during your loan, so make sure to check before you apply.
  • The lender’s borrowing rules: Before you apply for a loan, make sure you meet all the lender’s application guidelines. For example, make sure that you earn more than their minimum income. If you apply for a loan without meeting the requirements, you’re more likely to be declined and this may leave a mark on your credit file.
Apply now for a long-term personal loan of your choice and get an instant decision! As a premium direct lender and credit broker you can rest assured that we are fully authorised and regulated by the Financial Conduct Authority. You can borrow any loan amount between £2,000 and £25,000* with monthly repayment plans ranging from 3 months to 60 months (5 years). We’re flexible – you can choose whether you want a loan with a guarantor or not and you can apply with a poor credit history as well.
Apply now for long-term loans from a responsible lender - Personal Loans NowApply now for long-term loans from a responsible lender - Personal Loans Now

Written by: Kylie Jenson
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