The cost of borrowing £300 over 6 months:

Fast Loan UK £507.48
Mr Lender £544.00
Cashasap £556.23
Lending Stream £579.00
Money Platform £586.26
Savvy £595.00
QuidMarket £596.46
Cash4unow £599.82
Fernovo £595.92
Ticket Loan £595.92
Loan Pig £595.92
Moneybag £600.00

Proud to offer the cheapest instant short term loans in the UK

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Warning: Late repayment can cause serious money problems. For help, go to moneyhelper.org.uk

Representative example:

Borrow: £300 over 8 months. 8 repayments of £70.31. Total amount payable £562.44. Interest rate: 130.21% pa (fixed). Representative APR: 840.75%

If you require an affordable solution to manage significant expenses, our 12 month loans are specifically designed for returning customers who have successfully repaid their first loan in full with us. You can choose a repayment period of up to 12 months and up to a maximum of £2,000 loans today, making it easier for you to handle emergency bills or payments with flexible instalments. With our 1 year loans, you can effectively spread out the financial burden, ensuring that each monthly payment remains affordable and sustainable.

We understand the importance of quick and efficient loan services. That's why we offer fast loan decisions and same day loans for eligible applicants where possible. We are here to help you get your finances back on track as 12 month loans direct lenders, so if you are a returning customer who has repaid their first loan in full, you are welcome to apply again.

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As responsible lenders, we always prioritise the well-being of our customers. That's why we evaluate each 12 month loan application carefully to ensure that you are in a position to repay the loan. We only offer short term loans to cover essential expenses and when you have no other means of resolving your situation, such as savings or available credit. Trust us to provide a financial solution that works best for you.

To start your application, log in here and we’ll see if we can offer 12 month loans for bad credit based on your affordability. For new customers, you can choose a maximum repayment term of up to 8 months on a loan amount of up to £800. If you ever need our help in an emergency again in future and have successfully repaid your first loan with us, you may then be eligible to apply as a returning customer for a 1 year loan. We also offer loans with shorter repayment terms such as 4 month loans or 1 month loans.

12 Month Loans Bad Credit

At Fast Loan UK, we offer a comprehensive lending solution for those facing unexpected financial issues. Our 1 year loans are designed with affordability in mind, with equal monthly repayments spread over a term of up to 12 months. This can be ideal for business loans or those who are faced with an emergency bill, such as car repairs, home maintenance, or even a boiler failure. We understand the urgency and stress of financial emergencies, especially when you have a poor credit history and no savings to help. This is why we are happy to offer loans for bad credit to eligible customers, so you can get back on track quickly with affordable repayments.

If you are considering our 1 year loan option, it's important to determine if this is the best choice for your finances. Consider whether you need to borrow for the full 12 months and whether there are alternative solutions available to you. In a financial emergency, you want to resolve the issue as quickly as possible and not take on a loan for any longer than necessary. If you have the means to make larger repayments each month, opting for a shorter loan term may be more advantageous.

It's important to have a clear understanding of your finances, including what you can afford in terms of repayments when looking for 12 month loans for bad credit. Our goal is to ensure that our customers receive the financial support they need, when they need it, with the utmost transparency and fairness. We prefer to rely on personal judgement rather than automated decision-making to ensure that all 1 year loan applications are treated fairly, regardless of credit history.

With Fast Loan UK, you can trust that your application will be thoroughly assessed and that you'll receive the best possible loan solution to meet your financial needs.

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Why Choose Fast Loans for a 12 Month Loan?

We always ensure our lending practices align with the standards set by the Financial Conduct Authority (FCA) at Fast Loan UK. We understand that taking on a 1 year loan is a significant financial decision, and it is our responsibility to ensure that you have an affordable loan that you can sustain. As FCA approved 12 month loans direct lenders, we will never approve a loan to someone who is already struggling with their finances or cannot manage the repayments. If, however, you do have the means to repay a loan and our assessment determines a 12 month loan is the best option for you, we will be glad to assist.

As we believe in responsible and fair lending practices, decisions on our direct lender loans are not made using automated processes. Instead, all applicants will have a personal Customer Care Manager who will take the time to thoroughly assess the affordability of a loan. Whether you're a first-time borrower with us seeking a term of up to 8 months or a returning customer in need of 12 month loans with bad credit, we'll provide a tailored solution to meet your needs.

Our loan application process will determine your affordability and will involve a credit check as well as an assessment of your finances. If we determine that a 12 month loan is not a feasible option for you, we will decline the application. Unlike other lenders, we take the time to carefully assess what you can afford to pay before approval. Your personal Customer Care Manager will verify the information with a quick phone call, ensuring accuracy. Sometimes all the necessary information can be obtained from the Credit Reference Agency (CRA), but your Customer Care Manager will always double-check any unclear details.

If you are eligible and we can help, you’ll receive a decision in principle fast and potentially the money you need in your account within just 15 minutes of signing your 12 month loan agreement. With no hidden fees and the option to repay early if you can afford to do so, choosing Fast Loans can be the quick solution you’re looking for.

12 Month Loans Direct Lenders

If you are considering 12 month loans direct lenders for your next loan, there are plenty of good reasons why this can simplify your borrowing experience. With direct lenders, you remove the middleman, which is typical of using a broker service or similar. This means you're dealing directly with the source of your funds whether you’re looking for small loans or a larger amount to borrow.

This also means full transparency in terms of interest rates, repayment terms, and any additional fees, so you can be fully aware of the financial commitment you're undertaking with 1 year loans. You’ll also find that direct lenders will often have a faster and more streamlined application and approval process, meaning you can access the funds you need quickly and efficiently when compared to a credit broker.

As a direct lender, we can be more flexible in accommodating your specific financial situation and needs, making it easier to tailor a 12 month loan to suit your unique circumstances. We also charge no hidden fees and are transparent with your loan terms so you can see exactly what you need to pay. If you want a straightforward, efficient, and human approach to borrowing, look no further than Fast Loan to help today.

How To Apply For 12 Month Loans

To be eligible to apply for a 12 month loan, you’ll need to meet the following:

  1. Be aged 18 years or over. 
  2. A current UK resident.  
  3. In full or part-time employment, or self-employed.  
  4. Receiving regular income.  
  5. Able to provide bank account and debit card details.  
  6. Be a returning customer who has repaid their first loan in full.

As you will be a returning customer for a 12 month loan, we will review the information you previously provided and verify that nothing has changed since your previous loan with us. However, for those applying for the first time, keep in mind that the longest repayment term you can receive on your initial loan is 8 months.

Our loan decision is made in principle immediately, and if approved, you may receive the funds the same day for a 1 year loan. This allows you to quickly settle your emergency bill and get back on track without worrying about the financial burden. This will depend on the time of your application and if your bank supports the Faster Payment System (FPS).

If you’re ready to apply now, start your application and we’ll provide you with an agreement in principle once it’s complete. If you have any questions about our 1 year loans, please contact us. As trusted 12 month loans direct lenders, we’re happy to help answer any queries you may have and provide more information.

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12 Month Loans FAQs

Can I borrow a 12 month loan if I’m a new customer?

If you’re a new customer, we offer loans with a repayment term of up to 8 months. Our 12 month loans are only available for returning customers who have successfully repaid their previous loan with us. If you are a first-time borrower, we welcome you to apply for a loan with us and once you have established a good track record of repayment, you may be eligible for a maximum 1 year loan term in the future. However, we always advise our customers to choose a loan term that aligns with their affordability and helps them clear the debt in the shortest amount of time.

Representative example: 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.

How do I pay back a 12 month loan?

We use a Continuous Payment Authority (CPA) to make the repayment process seamless and stress-free for you on a 12 month loan. Your credit agreement will outline your payment due date, whether it's weekly or monthly, and the CPA will automatically deduct the required amount from your bank account. To help you keep track of your repayments, we'll send you a reminder a few days before each due date. It's crucial to maintain timely repayments to sustain your loan and to contact us immediately if you foresee any issues.

Do I need a good credit rating for 12 month loans?

Having a strong credit score is ideal, however, it is not a determining factor in our 12 month loan approval process. Our focus is on your current financial situation and your ability to repay the loan. Credit checks will be conducted to assess your financial history, but if we see that your finances are in good standing and you can afford 12 month loans with bad credit, your application has the potential to be approved, regardless of your credit rating.