Do you want to own your car now?
Do you need more money upfront and pay it back in relaxed instalments?
With long-term loans from Fundingpeer, you can pay less each month or borrow a huge amount.
We help you with the best loan term by granting you the complete freedom to personalise it by choosing the money to borrow and the term.
A longer repayment schedule on long-term personal loans can raise the overall interest and costs.
Hence, we never urge you. Instead, we help you adopt the best per your circumstances and potential.
And how do we do so?
By helping you choose the best:
Connect early to know how we can help you crack your aspirations with easy and quick long-term loans.
Are you looking for a long-term loan? We provide secured long-term loans from £5000-£50000 for your personal and business requirements for 12-84 months (7 years). Get one even if you have credit issues. We count your personal and financial circumstances while assessing the loan affordability than your credit score. You can pay the loan before 60 days of loan closure without a prepayment penalty. Get funds within 24 hours.
Long-term loans are loans that you can pay off over a longer term- like up to 7 years. These loans are generally secured loans. The asset security helps the borrower qualify for lower interest rates and save repayment costs. The interest rates on these loans are fixed. By paying the complete amount by the term’s end, you can get your asset back. Examples of such loans include- mortgage loans, home equity loans, home improvement loans, etc.
However, if you do not have the asset to pledge but want a long-term loan, you can opt for unsecured long-term loans. With a stable credit profile and income support, you may get these loans. Some examples include- student loans, payday loans, credit builder loans, etc. The interest rates on unsecured long-term loans are more competitive than secured loans.
Long-term loans grant borrowers the flexibility to meet requirements by spreading payments. Choose the loan term within which you can comfortably pay the amount and interest. The longer the repayment term, the higher the interest rates are.
Besides paying over shorter and longer periods, different parameters like costs, convenience, and interest rates differentiate between long and short-term loans. Well, in some situations, long-term loans can be the best answer.
Here is how these differ:
| Long-term loans | Short-term loans |
|---|---|
| These loans have a longer repayment schedule (84 months) | These are essentially collateral-free and small loans with a repayment schedule of 12 months |
| Grants one more flexibility in spreading loan amount up to longer-term alongside meeting priorities | Here, one must repay the amount within the time limit. Non-repayment leads to default if one cannot arrange money by the due date |
| One can use it for futuristic business or personal dreams | These are generally ideal for emergencies |
| Examples of long-term loans include- mortgage loans, home renovation, student loans, equipment finance | Examples of short-term loans are- payday loans, doorstep loans, quick loans |
| The interest rates are more competitive than short-term | Affordable interest rates than long-term loans |
| Requires stellar credit and income profile to qualify for an amount up to £50000 | One may get these at bad credit score and income. You can only get up to £5000 |
While choosing between the two, one must highlight the repayments. If you feel the payments are high on a short-term loan, you can skip to a long-term loan.
Everyone has dreams and life goals requiring large capital to get the right push. With us, you can choose and get long-term loans with low monthly payments and immense freedom.
If you are wondering how to get the maximum of your needs sorted, read below the types of long-term loans that fit your life's bucket list.
Secured loans
These are collateralised loans for individuals seeking handsome funds they otherwise cannot qualify for. The reason could be bad credit. Apart from fetching your affordable terms, these are also low-interest long-term loans
The higher you borrow, the less the interest will be. We ensure protective terms that help avoid losing your pricy asset. Use it to achieve your dream of owning a car or house or borrow against house equity.
Business loans
These loans may help if you are a self-employed businessman or a start-up. You can finance:
Moreover, if you are a start-up seeking immediate finance, you can switch to long-term start-up business loans to fetch up to £100000 and relatable terms. These are both secured and unsecured. With a business plan supported by a strong reputation and operation history, you may qualify for these instantly.
Payday loans
These loans are ideal for those individuals who need money within 15 minutes without engaging in credit score constraints. An emergency loan can bridge expenses until pay-date/salary day.
You can qualify for these long-term loans with no credit check facility by flaunting an income proof and stable credit profile. No credit check implies- no credit footprint or soft credit check.
Spread payments up to 12 months if your business or job permits small repayments.
Home Improvement Loans
If you have any particular renovations or remodelling pending, like:
You may speed up the process with these home-improvement loans. These can be both secured and unsecured as per your needs. You can use loans to transform your new living space by mortgaging it.
Mainstream lenders often stretch the process while providing unsecured loans on less-than-ideal profiles. If you are exploring long-term loans for bad credit situations from affordable direct lenders only, you have landed right.
Here are some loans to qualify for fast long-term loans on collateral-free terms that you can use for different purposes and intents:
Guarantor and no guarantor loans
Long-term Guarantor loans: These mandate a person to guarantee your loan on bad credit.
Non-guarantor loans: Ideal for students and individuals seeking steady independent finance without any guarantor involvement.
Both of these loans are long-term. You can get up to £10000 (non-guarantor) and more in guarantor loans (£25000). Yes, you may get long-term loans for bad credit with no guarantor and no fee with us.
Debt consolidation loans
If you want to reduce your liabilities, you can do so with long-term debt consolidation loans. It eases up by merging all your payments into a single cheque. If facing bad credit, consider paying some loans or removing delinquencies to get better terms.
Loans with poor credit
You may contact us for quick long-term loans even if your profile reveals poor credit history. We could help you with smooth £7000 for emergencies.
Whether you desire a secured or unsecured loan, we ensure you get it within one business day. Here, you can grab long-term loans with same-day payout and hassle-free.
Loans for the unemployed
Unemployed individuals- like self-employed people, students, and tenants can check these loans.
If you have some important tasks like:
We provide long-term loans for poor credit individuals with low income and credit scores. The long-term here is generally to spread the payments to avoid additional burden on finances and lifestyle.
Sometimes, a few wrong decisions could make you wait longer to grab your dreams. As responsible lenders, we provide loans for bad credit that are competitive in the UK marketplace.
Mainstream lenders get selective while dealing with bad credit histories. However, we adopt a more compassionate touch towards dealing with such profiles.
Here is how you can qualify for long-term loans for bad credit with us:
We Identify the best amount for you
As you approach us by filling out an application, we help you by analysing your requirements and affordability. By carefully reviewing your past debts, liabilities, and other aspects, we reach a flexible figure that is easy on your budget.
If you have a responsible profile, you may qualify for better terms.
Draft a personalised agreement
After acquainting the figure, you may qualify comfortably. We create a loan agreement stating:
Going for a long-term secured loan is ideal to qualify for a large sum without any trouble. However, you must not impact your budget’s bottom line. We never force you to accept it unless you are comfortable with the agreement.
Sanction the loan amount
We will release the funds to your account as you confirm the loan.
We prioritise customer safety above everything else while providing these instant long-term loans.
If you have been exploring the best long-term loans from prestigious direct lenders, you have landed right. We help you pick the right package and familiarise you with the benefits.
Apart from providing flexibility of repayments with extension, other things can make you apply for one today!
Although every coin has two sides, and so there are cons too, let’s check both ways:
| Advantages | Disadvantages |
|---|---|
| An affordable repayment plan that is easier to manage and hassle-free | Mismanaged or missed payments may increase the liabilities |
| You can easily loan a higher amount and fund your dreams without waiting | A longer-term means more interest payments. Although, we sort it out for you |
| Multiple loan options to choose from and save time | May have to wait to take up another loan (if you took one on bad credit) |
| Limited overall loan costs make it an ideal option | In the case of secured loans, you may lose your asset. (As mentioned early, we help you avoid it with expert guidance) |
| Missed payment fees are lower than small loans | The economy may impact interest rates if you are on variable interest rates. |
| Help you build credit score with regular payments | Credit score dents if you default on these loans |
What do you cherish the most while leveraging long-term loans?
Is it something like:
Yes, we do grant it! Whatever you desire, we believe that you share every right to ensure a memorable closure. Our loan product, like- long-term loans for bad credit come on instant decision and essentially mandates- SATISFACTION.
Here is why you should dial the number today for your bravest aspirations:
| Fundingpeer | Mainstream lenders |
|---|---|
|
If you are looking for long-term installment loans with no credit check from a direct lender, you can rationalise it here. We approve loans if your affordability aligns well with the amount needed. |
They conduct a detailed credit check for every borrower impacting approval. |
We provide a redraw facility to customers of up to £10000 if they are nearing loan closure. |
Not necessary |
Provide loans with fast speed without any documentation (even if you provide collateral). The loan is a breeze with us. |
Different checks- collateral, credit, and huge documentation, make it impossible. |
Precisely, we aim to ensure the best fetch for your situation regardless of the credit profile. You must be sharing queries. Here are some popular ones. Just call us for further discussion per se.
You must meet these requirements to qualify for these loans:
The cost of the loan depends on the interest rate, credit rating, loan duration, and collateral provided. Here are some costs to be mindful of:
We do not charge a prepayment penalty. All of these costs are best in comparison to other providers.
Yes, most long-term loans have fixed interest rates. However, you may also go for variable interest rates if you want to.
We provide loans at variable rates too. However, variable interest rates may benefit you or exceed your repayment amount. They are highly volatile to the market/economy. Choose wisely.
You must not need to be a homeowner to get these loans. Nevertheless, we may require a guarantor if you do not qualify the terms as a non-homeowner for some loans like home equity loans or mortgages that mandate one to be a homeowner.
For the rest, you may qualify without being one.
Yes, you may qualify for the best rates for your earning and credit profile. We consider a range of parameters other than just credit score. If you have previously suffered rejections, you indeed share better chances to qualify with us.
