Long Term Loans, Long Term Loans Direct Lenders in the UK

Long Term Loans


Representative example: Borrow £700 for 5 months. 1st monthly repayment of £235.80, 3 monthly repayments of £235.80, last monthly repayment of £235.90. Total repayment £1,179.10. Interest rate p.a. (fixed) 222.79%. Representative APR 832.04%. Our APR includes all applicable fees. Daily interest is capped at 0.793%.

If you are looking to borrow a considerable sum of money, long term loans can help to ensure repayments are affordable. However, this type of loan is not always ideal, especially if you only want to borrow a small amount. Here at Payday Loans Net, we don’t offer long term loans in the UK, but we can help you borrow up to £1,000 to cover a short term expense. You can choose repayment terms between 3 – 6 months, so that you won’t have to spread a smaller loan over a lengthy period.

Applying through us is easy and only takes a few minutes to get started. Just choose the amount and loan term you want, click apply now to start your application, and get a decision in 90 seconds. If approved, we’ll send you the money the same day.


Types of Long Term Loans

When you want to apply for a long term loan, you’ll want to ensure you are choosing the right type of loan for your circumstances. There are a few types of long term loans to be aware of and not all are exactly the same. Long term personal loans are designed to provide a fixed rate of interest added at the beginning of the term and allow you to spread a loan over many years. You can usually borrow between £1,000 and £25,000, but this can vary between lenders, and choose loans from at least 12 months to several years. They are a form of long term unsecured loan, so applicants do not have to attach any valuables such as property or a car to the loan to secure it.

Other long term loans direct lenders can offer secured borrowing, where the loan is secured against an asset. This is commonly in the form of a mortgage or a logbook loan, where up to the value of the property or vehicle can be borrowed. As these can involve very high values, this is why long term loans are a good option, otherwise the repayments would be unaffordable in the short term for many people. There are also long term payday loans in the UK, but these are still over a much shorter period when compared to a mortgage, for example.

Comparing Long Term Payday Loans

If you have found long term payday loans, you may have wondered how these work. Traditionally, payday loans would need to be repaid on someone’s next salary date, providing a quick way to borrow money when short on cash during the month. The way long term payday loans in the UK work are that they provide a few months to settle them. Here at Payday Loans Net, we do not provide loans for the long term, however, we do provide payday short term loans that can be spread between 3 – 6 months. If you want to find the best long term payday loans, you’ll find we offer flexible repayments and offer a lower APR than many other similar long term loan companies.

We have made applying and getting approved for a loan to cover an emergency expense as quick and simple as possible. This is all whilst being Financial Conduct Authority (FCA) authorised, following responsible lending guidelines. It’s always best to compare your options so that you can be as informed as possible before proceeding with any loan agreement. Using our loan calculator, you will be able to see the approximate cost of your chosen loan amount. This is the same when looking for the best long term loans available, as lenders should provide full details before you proceed.

Finding Long Term Loans for Bad Credit

For those with a poor credit history, finding long term loans for bad credit in the UK may involve a lot of searching. You may discover that many lenders will only provide this if you have a suitable guarantor. This is because the lender will want to minimise the risk of lending to those with bad credit by having someone with a good credit history co-sign the agreement. This is also why other types of secured loans may be offered to those with poor credit too, ensuring that if you fall into any financial difficulty that the loan amount can be repaid.

Here at Payday Loans Net, we provide unsecured short term cash loans and we can also help those with bad credit get the loan they need. We won’t ask applicants to provide assets or a guarantor to secure the loan, instead, we assess your finances and determine if you can afford the loan you want. We know not everyone has a perfect credit history, so as long as you are not in current financial difficulties and we can see you can afford it, there is every chance we can approve an instant loan today.


Long Term Loans FAQs

Are Long Term Personal Loans the Best Option?

If you require a loan for a higher value above £1,000, you’ll want to spread the costs for longer to keep repayments affordable. Many long term personal terms will offer terms for at least 12 months, so they can be a good option in this situation, especially for non-essential purchases. If you only require a smaller amount for the short term, they are not ideal, so using instalment loans that are for 3 – 6 months can be a better choice whilst enabling you to settle unexpected expenses quickly.

Can I Trust Long Term Loans Direct Lenders in the UK?

Yes, as long as you use trusted sources. We are an FCA authorised direct lender, so at Payday Loans Net, we are a trusted provider of quick loans to cover essential expenses. You should always check if a lender is FCA approved before proceeding, so if you are needing a long term loan, search for the company on the FCA register and check their authorisation number first. Unfortunately, there are still lenders online who will not be in your best interests to borrow from, either charging hidden fees or higher than average interest. They may also not work to responsible lending guidelines, designed to keep prevent you from borrowing more than you can afford.

Can I Get Long Term Loans for Under £1,000?

Usually, most long term loans will be for higher values than £1,000, so you won’t normally find these for lower amounts. We can help you borrow funds if you need them in the short term, helping you spread payments over a few months for between £300 – £1,000.

Am I Guaranteed Approval with Long Term Loans for Bad Credit?

No lender can guarantee you will be approved for the loan you want before applying. If you have bad credit, whilst we can help you with a cash loan, we can only approve this after credit and affordability checks have been completed and we are satisfied you can afford the loan. We are responsible lenders, so we will not lend to those in financial difficulty. If you do find 100% acceptance loans online, this may mean they charge hidden fees or are not FCA approved.

Apply for an Alternative to Long Term Loans Online

Ready to apply for a loan in the short term at Payday Loans Net? Click apply now and we’ll provide a quick decision. If you have any questions about long term loans online when compared against our available options, please contact us and we’ll be happy to discuss. As we cannot offer financial advice, if you are experiencing financial difficulties, seek further information from sources such as Money Helper for impartial advice.

Long Term Loans in the UK

A long term loan can be ideal for borrowing more than £1,000, as it will help spread repayments for longer to make these affordable. If you do not need to borrow a large amount and want to repay quicker than 12 months, this is where a short term option can be better. At Payday Loans Net, we can help those in an emergency quickly resolve it and repay a loan within 3 – 6 months. This can help you get back on track quickly and settle your unexpected expense the same day. T apply, you will need to meet the following:

  • Reside in the UK
  • Have a UK bank account
  • Have a steady income

If you are over 18 years old, you can click apply now and start your application. We work fast so can give you a decision within 90 seconds of completing your application. If all is approved and you have confirmed you want the loan, we can pay into your bank account the same day. Use our loan calculator to see how much the loan value you want will cost to repay and let us know if you have any questions at all.

Representative example

Total amount of credit: £500
Duration of the agreement: 4 months
Repayment total: £863.24
Interest is fixed at rate of 270.10% per year – 0.8% interest per day | Representative 997% APR
Instalment 1
Instalment 2 & 3
Instalment 4
Warning: Late repayments can cause you serious money problems. For help, go moneyhelper.org.uk