With affordable repayments able to be spread for up to 12 months, a loan through Fast Loan UK can help you pay for a larger expense. Whether you have an emergency bill to pay that can’t wait or you need to borrow a larger sum to cover other types of unexpected expense, we have options to provide an instant decision and pay-out today. Whilst a 12 month loan is the maximum term we can help you with, it by no means is your only option. We provide flexible terms that you can choose to match your circumstances, so if you can pay back a loan quicker than 12 months, we’re happy to arrange this.
Once you have settled your first loan through us in full, you can choose to apply as a returning customer for a maximum of 12 months when you need it. A loan through us is designed to cover an essential expense and only when you have no other means to settle your situation, such as using savings or available credit you may already have. As responsible lenders, we need to ensure you are a trusted customer before considering lending up to the maximum of a 12 month loan.
Having 12 equal monthly repayments allows our customers to borrow a larger sum up to £2,000 whilst having affordable monthly repayments. This is particularly beneficial when a large, unexpected bill arrives, whether it’s to sort an issue on your car that needs a repair, essential maintenance to your home or even a boiler failure. These types of financial emergency are always highly inconvenient and require urgent action. You’ll hopefully already have savings or available credit to help, but if it comes at a time when you’re in between paydays, for example, or your savings or available credit can’t cover it alone, what are your options?
At Fast Loan UK, we know that when you can’t quickly resolve an issue with your finances it can be frustrating. That’s why we offer instant cash loans if you have the proven affordability to make repayments. You’ll get a decision in principle immediately and can receive the cash the very same day if your application is approved. This way, if you choose to apply for 12 month loans through us, you can settle your emergency bill fast. Whilst we cannot guarantee your requested loan will be approved, we can ensure your application is treated fairly whether you have good or bad credit. We don’t rely on automated decision making, in fact, we prefer the human approach. That’s why all applicants are assigned a personal Customer Care Manager to oversee the application and to fully assess your affordability. So, whether you’re a new customer requiring up to an 8 month term, or a returning customer needing a 12 month loan, we’ll take the time to fully assess your finances.
When considering to apply for our 12 month loans, you’ll want to ensure this is the best option for you and your finances. You should ask yourself whether you need to borrow for this maximum term and whether you have a better option already. In any type of short term emergency, you’ll want to settle things quickly and avoid holding onto a loan longer than is necessary. If you can afford to pay slightly more each week or month towards repayments, you should look to choose a shorter term than the maximum available. You’ll want to be confident about your finances too so that you know how much you can afford and whether you can maintain the loan repayments. If you are not sure of the answer to both of those, you should look at reviewing your finances first and have a clear idea in your mind.
Part of the application process with us for a maximum 12 month loan term is ensuring you can afford it. We run both a credit check to see your financial history as well as an assessment of your finances. If we can’t determine that our 12 month loans are affordable for you, we will have to decline your application. Unlike many other direct lenders, we will take the time to determine what you can afford to pay. Your Customer Care Manager will check with you through a call that will take no longer than 5 minutes, ensuring the information is accurate. Sometimes we can gather all the information we need from the Credit Reference Agency (CRA) first, but we’ll always check with you about anything we are unsure about.
Having an affordable loan is the priority and as Financial Conduct Authority (FCA) approved lenders, we take our commitment to responsible lending seriously. We will never approve a loan to an applicant who cannot afford it or is already in financial difficulties. If you do have the affordability and we determine a 12 month loan is right for you, we are always happy to help.
To be eligible to apply today through us, you will need to meet the following criteria:
1. You are aged 18 years or over
2. Be a Current UK Resident
3. Be in Full or Part-Time Employment, including Self-Employed
4. Receive a Regular Income
5. Be able to Provide Bank Account and Debit Card details.
As an existing customer applying for 12 month loans, we will check your details and that your circumstances have not changed since your first borrowing with us. For new customers, please note the maximum repayment term you can apply for with your first loan is 8 months.
If you are using Fast Loan UK for the first time, we are happy to help you borrow up to a maximum term of 8 months. Our 12 month loans are for returning customers who have had borrowing with us previously and paid this in full. Once you become a trusted customer after repaying your first loan with us in full, you are welcome to apply in future for a 12 month loan if this is what you need. Please note, we do not encourage customers to apply for the maximum terms available and you should always choose a loan term that will clear the amount the quickest against what you can comfortably afford to pay.
Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.
We use a Continuous Payment Authority (CPA) to automatically take repayments on your due date set out in your credit agreement. So, whether you choose weekly or monthly repayments, all you have to do is ensure enough credit is in your bank account before the due day. So you don’t forget, we’ll send you a reminder a few days before each payment is due. It is important to maintain repayments on time if you are approved for a 12 month loan and contact us ASAP if for any reason you cannot do so.
Whilst you should aim to have the best credit rating you can, it is not a requirement to have a minimum credit score to apply. We are happy to help you whether you have a low credit score or an excellent one, as long as you can prove your affordability for the 12 month loan you want. We will run a credit check to see your financial history, but as long as your current finances are in good shape and we can see you can afford the loan, there is every chance your application could be successful.