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Warning: Late repayment can cause you serious money problems. For more information, go to MONEYHELPER.ORG.UK
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Loan Broker ( is a credit broker and not a lender.

What are 12 Month Loans?

These are essentially short-term, unsecured personal loans, that can be repaid in a span of 1 year.

Conventionally, short-term loans were given out for just one to three months. However, with changing consumer demands, lenders now readily offer these high-cost loans for a period of up to one year.

The 12-month loans are designed such that the borrower can repay the amount in 12 equal monthly installments. Both, the loan amount, as well as the tenure of the loan, can be chosen by the borrower.

Can I get a 12 Month's Loan with Bad Credit?

A vast majority of lenders prefer to offer loans to individuals with a good credit scores. Thankfully, times are changing, lenders are beginning to understand that the credit score alone cannot determine the overall financial standing of an individual.

Hence, these lenders look at more holistic factors such as the repayment ability of the borrower, and their overall personal finance management. If the borrower seems responsible enough, lenders are often willing to offer them a 12-month loan, although usually at a higher rate of interest.

So, it is possible for you to get a 12-month loan, even with a bad credit history. In fact, if you repay the loan on time, and in full your credit score can significantly improve.

How can I get a 12 Month's loan?

The process is fairly simple and hassle-free. All you need to do is follow the below-mentioned steps and get an instant loan for 12 months.
  1. Tell Us About You
Fill in the online application form with personal and professional details such as – date of birth, contact number, email address, current employment status, bank account details, residential address, and the loan amount you need and for how long.
  1. Get the decision
Our lenders will verify the information provided by you. They will also assess your loan eligibility to evaluate your creditworthiness. They need an assurance that you will be able to repay the money to them, without fail. The decision made by them will be displayed on the screen within a few minutes.
  1. Loan disbursal
If the lender approves your loan application, the loan amount will be disbursed by the lender to your bank account. The time taken for loan disbursal depends on the lender you’ve chosen and your bank.

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FAQs on Loans for 12 Months

This short-term loan can be used for a wide variety of purposes, including but not limited to home improvements, vehicle repairs, funding a vacation, paying for school fees, wedding expenses, paying off a smaller debt, etc. In most cases, the lender doesn’t place any restrictions on the usage of the loan amount, except for illegal purposes. You must also know that the loan amount cannot be invested in stocks and shares in the United Kingdomor elsewhere.
One or more missed repayments can severely damage your credit score. It is, therefore, very important, that you only borrow an amount that you can repay without much hassle. In case, you are unable to make repayments, your ability to secure a loan in the future will be jeopardized. Hence, make sure to have a financial plan for monthly repayments in place before opting for a loan.
It is our sincere endeavour to help you find unsecured, short-term loans. While a vast majority of these loans do not require you to have a guarantor, some lenders may need one. This is especially the case when you have a bad credit history. If the lender does need a guarantor, you can ask a close friend or family member to do so. Not only will it ensure that you get the loan quicker, but it will also help you get the loan at a relatively lower rate of interest.
Yes, you can repay your loan earlier than the stipulated date. However, before doing so, do check with your lender to see if there is an ‘early exit fee’. If there is, then you might want to check if the early repayment is worth incurring the additional fee.
At Loan-Broker, we offer 12-month loans ranging from £100 to £5,000. Of course, if the loan amount is small, the repayment period will be relatively short as well.

Find Homeowner Loan – With Loan Broker

Loan Broker is an FCA registered credit broker that operates across the major cities of the UK. All the lenders associated with it are also authorised by the financial regulator. The mission is to promote responsible lending and hence, our lenders perform soft credit checks to offer initial quotes. Soft credit checks are safe as they do not leave any footprint on your credit report and doesn’t even harm your credit report.

We do not charge any upfront fees to our consumers. We offer an array of unsecured loans such as – debt consolidation loans, self-employed loans, to help borrowers get back on their financial track. As a credit broker, we help our borrowers to find the right lender by considering their requirements. With Loan Broker by your side, you can choose no obligation loans. We are loan brokers, committed to extending a true hand of help for borrowers seeking hassle-free, and affordable loans despite bad credit rating.

Borrow responsibly and repay timely.