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How Can I Get a 12-Month Loan in London?

How Can I Get a 12-Month Loan in London?

12-month loans are a type of short-term loan that has gained popularity recently. They are extremely helpful as they help one to accurately budget for the concerned money that they have borrowed as it is known that it must be fully repaid within a year or 12 months. This is the main difference that sets it apart from other types of short-term loans offered by various direct lenders.

Small loans are an excellent approach to allow one to budget for anything unexpected since they let one to borrow a variety of different amounts of money and they assist split up the borrower's loan into 12 reasonable installments that must be made on a monthly basis.


There are many people who may have a bad credit history, and there are many lenders available who are willing to provide loans to people who have a bad credit rating and who may have been denied loans elsewhere. Most lenders have eligibility checkers that help check the individual's likelihood of being fully approved for a 12-month loan for bad credit be around 13 pounds per month for borrowing 100 pounds under such a scheme.

Being approved for a 12-month loan and making all required repayments on time will help one's credit score, making it easier for the person to be approved for any type of credit in the near future. On the other hand, missing payments will have the opposite effect and will hurt the borrower's credit profile, making it harder for him or her to be accepted in the future for bad credit loans.

These 12-month loans have grown highly popular in recent years as direct lenders have started offering these types of loans which do not require a guarantee, and there are many UK lenders offering 12-month loans without a guarantor as not everyone may have access to that facility.

Getting a 12-month loan approved

Lenders always prefer people with good credit scores as they can be trustworthy and reliable and are more likely to repay the loan amount in the stipulated 12 months or 1 year. One needs to have a good credit score to increase approval chances for the borrower. One is only eligible for such loans if he or she is over 18 years of age and is a citizen of the UK. Having a good income source is advantageous but not necessary.

The borrower can receive loans by entering into a joint agreement, which can be done by persuading a friend or family member to serve as your guarantee for the 12-month loan. In this instance, if the borrower fails to make a repayment to the lender, the guarantor will pay in the borrower's place.

In the event that the concerned person or borrower is unable to find a guarantor, he or she may pawn any item, such as real estate, personal property, or even a car, provided that the asset has a value equal to the amount of the loan.


These loans are hassle-free and typically do not carry any additional hidden fees and are also comparatively easier to repay when compared to personal loans or payday loans which have higher interest rates. Many lenders frequently provide people with 12-month loans even though they do not have a guarantor to furnish.

Today's lenders give tailored loans to borrowers based on their financial condition and state of living thanks to simplified loan processes that enable them to quickly assess the borrower's financial situation and the fact that most of the systems are now online, which has reduced a lot of paperwork.

This helps a person from any strata of society and any economic background opt for a loan without feeling financially distressed due to the various competitive rates of interest offered to the borrower by the lender. These lenders that offer 12-month loans also provide competitive rates of interest to the borrower for people with a poor credit score.

They offer quick loan approval processes and also credit the concerned loan amount directly into the borrower's bank account making the loan obtaining process smooth and hassle-free. The borrower can easily repay the loan to the lender in simple instalments every month for the 12 months time period of the loan. One can choose a 12-month loan in case of any financial emergency or an unexpected expense that may need to be cleared immediately.

Even if the applicant has a bad credit history and urgently needs cash, there are numerous lenders offering a variety of installment loans for borrowers with various types of credit scores.


One of the main reasons why more and more people are choosing 12-month loans is the competitive APR, hassle-free, dependable loans with options for bad credit, the lack of a guarantor requirement, the availability of small and large loans as needed, repayment of loans in convenient instalments, the assurance that people from all economic backgrounds have an equal opportunity to secure a loan, among many other factors.

Compare your options carefully and select the 12-month loan that best meets your requirements.""" - https://www.affordablecebu.com/

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"How Can I Get a 12-Month Loan in London?" was written by Mary under the Business category. It has been read 128 times and generated 0 comments. The article was created on and updated on 16 November 2022.
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