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Long Term Loans

your ultimate one-stop-shop for long term loans in UK

Representative 79.5% APR

LoanTube is a credit broker not a lender.

Credit subject to status & affordability assessment by Lenders.

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

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LoanTube is a credit broker not a lender. You must be 18 or over and a UK resident. Representative 79.5% APR

4.8/5

4.8/5

Loans By MAL

Loan Amount

£1000 -

£5000

Loan Term

1 -

2 years years

Representative APR

42.20%

Minimum Age

21 years

Minimum Income

£1300 per month

Representative Example: on an assumed loan amount of £2300 over a 24 month repayment period. Rate of interest 22.4% per annum (fixed). Representative 42.2% APR. Total amount payable is £3,330.48 of which £1,030.48 is interest, 24 monthly repayments of £138.77.

4.8/5

4.8/5

Norwich Trust

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years years

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

4.8/5

4.8/5

My Community Finance

Loan Amount

£1500 -

£25000

Loan Term

1 -

5 years years

Representative APR

27.10%

Minimum Age

21 years

Minimum Income

£18,000 per annum

Representative example: a loan of £5,000 over 48 months will cost you £163.62 per month at a representative 27.1% APR.

Loan Amount

£1000 -

£5000

Loans By MAL

Loan Term

1 -

2 years

4.8/5

4.8/5

Representative APR

42.20%

Minimum Age

21 years

Minimum Income

£1300 per month

Representative Example: on an assumed loan amount of £2300 over a 24 month repayment period. Rate of interest 22.4% per annum (fixed). Representative 42.2% APR. Total amount payable is £3,330.48 of which £1,030.48 is interest, 24 monthly repayments of £138.77.

Loan Amount

£4000 -

£20000

Norwich Trust

Loan Term

1 -

10 years

4.8/5

4.8/5

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

4.5/5

4.5/5

Representative APR

28.96%

Minimum Age

18 years

Minimum Income

Not mentioned

Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00

Loan Amount

£1500 -

£25000

My Community Finance

Loan Term

1 -

5 years

4.8/5

4.8/5

Representative APR

27.10%

Minimum Age

21 years

Minimum Income

£18,000 per annum

Representative example: a loan of £5,000 over 48 months will cost you £163.62 per month at a representative 27.1% APR.

Loan Amount

£1000 -

£15000

Everyday Loans

Loan Term

18 -

60 months

4.4/5

4.4/5

Representative APR

99.90%

Minimum Age

21 years

Minimum Income

£10,000 per annum

Representative Example: Representative APR 99.9% (fixed). Based on a loan of £3,000 over 24 months at an interest of 71.3% p.a. (fixed). Monthly repayments of £237.75. Total amount payable £5,706. Maximum APR: 299%.

Introduction to Long-Term Loans

Usually, a long-term loan has a repayment of more than a year. The repayments could be spaced out over several years or even decades. A secured loan or a personal loan are both examples of long-term loans. However, most long-term loans have an average repayment period of two years or more. The actual terms will vary depending on the lender you are choosing to borrow from. 

 

Long-term loans are typically used for more expensive expenditures, including financing a car purchase or house remodelling. Additionally, they can be utilised for lesser costs like debt consolidation or unanticipated medical expenses. Finding the best long-term loan for you might be difficult because there are so many different kinds in the market. 

Let us understand more about this financing option in detail. 

How do Long-Term Loans Work?

Typically, a long-term loan is repaid over a year or more in fixed monthly instalments. This can help you spread out the cost of a significant purchase like house renovations or a wedding.

On a long-term loan, interest will be charged by the lender or the financial institution you are borrowing from. A long-term loan can be borrowed by applying for it with an application. You will first need to submit an application to a lender, who will then check your credit history and financial background to see if you qualify for a loan.

If you are accepted, you can then discuss the loan’s terms, including the interest rate, time frame for repayment, and size of the monthly payment. You will sign a contract and start paying loan payments after you have agreed to the terms.

The next step is to continue making prompt, complete payments until the loan is repaid.

Differences between Long-Term Loans and Short-Term Loans

A loan with a period of less than a year is typically referred to as short-term. Although it may differ from lender to lender, this is often how these loans fit in. Terms longer than 12 months are classified as “longer-term” loans.

To help you decide and choose the best loan option for you, let’s understand the difference between both short-term loans and long-term loans in more detail.

Basis of Differentiation

Long Term Loans

Short Term Loans

Type of Loan

Mostly, these are secured loans

These are unsecured forms of borrowing

Repayment Period

Generally, have a repayment period ranging from 1 year to 20 years

It is typically borrowed for less than a year

Loan Amount

A higher loan amount can be opted for as the repayment period is longer

The loan amount on offer could be much lower as compared to long-term loans

Interest Rate 

The interest rate will be lower as the amount may be high and the longer repayment period

The interest rate will be low as the risk of defaulting on the loan is high and the loan amount is low

Usage

Could be used for a variety of big-ticket items such as home renovation

Short-term financial issues could be sorted out, like paying off your credit card debt

 

A short-term loan can be the best option for you if you just need to borrow a modest amount, typically £1,000 or less, and you can pay it back within a year. If you have a short or bad credit history, it can also be simpler for you to secure a short-term loan.

If you need to borrow more than £1,000 and think you can pay it back over several years, a long-term loan might be the better choice for you.

Pros and Cons of Long-Term Loans

People who need to borrow a sizable sum of money and repay it over a long period typically take out long-term loans. Before applying for a long-term loan, you should weigh several advantages and disadvantages.



Pros of Long-Term Plans

Cons of Long-Term Loans

If you need to borrow a higher sum of money, this can be a smart alternative because you can borrow more than you can with short-term loans

You have a longer-term commitment to the loan as the loan amount is high

Long-term loans often have lower interest rates than short-term loans. This is a result of your longer and larger borrowing terms

Make sure you are completely aware of any fees before applying for a loan as there may be additional costs associated with long-term loans

Personal loans are accessible to most credit profiles and are usually offered by most lenders and financial institutions

If you are finding it difficult to make payments and extend the debt period, you will wind up paying more than you originally borrowed

 

Make sure you can return any kind of long-term loan promptly and fully each month; otherwise, you risk getting farther into debt.

Long-Term Loans Eligibility and Application Process

The eligibility criteria and process of applying for a long-term loan may vary from lender to lender. They may have different criteria to review an application form. However, we have tried to explain both processes – in a typical manner. 

Eligibility Criteria for Long-Term Loans 

You must have a strong credit score. This is so that lenders can decide whether or not you are a good applicant for the loan based on your credit score. With bad credit, you could still be able to get a long-term loan, but the interest rates might be high. You must have a reliable source of income. This is because lenders need to know you can afford to pay your bills on schedule each month.

You might need to offer collateral. This implies that if you are unable to make your loan payments, the lender may seize your asset and sell it to repay their losses. If you require a long-term loan but have a low credit score, this is a suitable alternative. In most cases, you must be at least 18 years old and a citizen or authorised resident of the United Kingdom.

Factors Affecting Approval of Long-Term Loan 

Various factors impact the approval of a long-term loan. Let us understand each of them so that you are well prepared before applying for it. 

  • Credit Score and History 

The lower the credit score, the chances of your loan application lower down as well. Because there is a risk of you defaulting on the loan with a poor credit history. Either the lender may turn down your application completely, or they may offer you a loan with a high-interest rate. You may also be asked to offer collateral to secure the loan if the loan amount is high. 

  • Employment and Income Source 

The lenders will assess your employment and income source to understand if you can pay back the loan without any difficulty. Your bank statements and financial accounts will be reviewed. If you are a self-employed person, you have to submit all the necessary documents that can help in the assessment of your income. 

Gathering Necessary Documents for Long-Term Loan Application 

Lenders will inquire about your personal details, income, and monthly expenses as part of the loan application procedure. Try to be as descriptive as you can because they probably require more information. The sooner you can make a judgement, the more particular information you can supply.

Typically, personal information and facts about your household or personal finances will be requested.

Applying for a Long-Term Loan 

A long-term loan application is rather easy and almost similar to other types of loans. 

  1. You must first choose a lender that provides long-term loans. You can do this by conducting an online search or by seeking suggestions from friends and relatives.
  2. Compare interest rates, costs, and payback terms once you have chosen a few lenders to discover the best offer.
  3. The next step is to complete an application with the lender of your choice. This will contain details on your earnings, work history, and debts.
  4. After reviewing your application, the lender will decide whether or not to approve you for the loan. If your application is accepted, you will be required to sign a loan agreement stating its terms.
  5. The lender will provide you with the loan money when you have signed the contract. The money can then be used however you like.
  6. Just keep in mind that you will have to pay back the borrowed money plus interest and fees over time. Before taking out a loan, make sure to account for this in your budget.
Types of Long-Term Loans

A long-term loan can help you in covering unforeseen costs or in making immediate purchases while spreading the cost over manageable monthly payments. People with a bad credit history might also be thinking about taking out a loan over an extended period to combine their current debts into one manageable payment.

Let us explore the various types of long-term loans available. 

Personal Long-Term Loans 

A personal loan can be used for a variety of things, such as debt consolidation, home improvements, or even a sizable purchase. These loans often include monthly payments and fixed interest rates, making them simple to budget for.

The way these loans operate is by taking out a big sum of cash, which is then paid back over a certain length of time, typically between one and five years. Since personal loans often have lower interest rates than other forms of credit like credit cards and payday loans, you will need to have strong credit to get approved for one. Even with a low credit score, you can still apply for a personal loan, but the interest rate will likely be substantially higher.

Mortgage 

An asset, such as your house or automobile, serves as the security for a secured loan. This implies that the lender may seize your home or vehicle if you are unable to repay the debt. Because they pose less risk to the lender, secured loans typically have lower interest rates. They are, though, nonetheless highly risky for borrowers because, if you are unable to repay the loan or any collateral you provided, you risk losing your home.

Because the lender will have security over your asset, a secured loan has the advantage that you are more likely to get approved for one. This entails cheaper interest rates as well as generally higher borrowing limits. 

Business Loans 

Small business loans are a form of long-term loan intended to fund the establishment or growth of a small firm. Small business loans often feature monthly payments and fixed interest rates, making them simple to budget for.

Long-Term Loan Amount and Repayment Terms

You must decide the loan amount that you need to borrow along with the repayment period. Otherwise, you may wind up paying more in interest while repaying the loan. 

Determining the Loan Amount you can Borrow 

Evaluate your financial needs, and calculate the annual cost of borrowing the loan term loan for the loan amount you need. Use an APR calculator and consider the APR you are being charged by the lender. Ensure that you do not borrow an amount that you don’t need. Borrow within your repaying limits. 

Repayment Period and Options 

Mostly, lenders will offer you repayment periods depending on the loan amount that you borrow. If you borrow a high amount, you may get an option to spread the repayments over 10-20 years. If the loan amount is small, you may choose to repay it over 5 years. 

Monthly Instalments and Interest Rates 

Remember, the longer the repayment amount, the more you will have to pay in interest. It is because the loan repayment period will be longer. That means, with each of the monthly instalment amounts, you will also have to pay the interest to the lender. 

Long-Term Loans Interest Rates and Fees

We will discuss the interest rates and various fees associated with long-term loans in detail so that you can decide better.

Fixed-Rate Vs. Variable-Rate Long-Term Loans 

Fixed interest rate long-term loans will have the same interest rate throughout the term of the loan. That means the repayment amount for each month will remain the same. You can be prepared financially and create a budget and stick to it easily with a fixed interest rate long-term loan. 

 

With a variable interest rate long-term loan, the interest rate will keep on changing. It may get high or it may get low. The amount you have to pay every month is not fixed with such a financing option. 

 

Factors Influencing the Interest Rates of a Long-Term Loan 

Various factors decide the interest rates of a long-term loan, and they are: 

 

Loan Amount you are Borrowing 

The amount that you are borrowing will have an impact on the interest rate the lender will charge you. If the amount is high, the interest rate will be low and for a low sum of money, the interest rate will be high. 

 

Credit Score 

With a high credit score, the interest rate will be lower as the risk associated with you on defaulting the loan is low. However, with a bad credit score, lenders will offer you a high-interest rate due to your credit rating. 

 

Security for the Loan 

If you offer security or collateral for the loan you are borrowing, the lenders will charge you a lower interest rate. When collateral is involved, the lenders generally lower the interest rate. It is because even if you fail to repay the loan, the lender will recoup the property or collateral to recover the amount you are not able to pay. 

 

Annual Percentage Rate (APR) 

The annual percentage rate, or APR, is the price you pay for all of your borrowing over a year. The regular costs and interest that you will have to pay are included, which is significant. You can compare lending items, like loans or credit cards, using the annual percentage rate (APR).

 

The various loan alternatives are frequently sorted by representative APR if you conduct a loan search, say on a price comparison website. 

 

Loan Arrangement Fees and Other Charges 

The lenders will charge you a loan arrangement fee for the loan, along with various other charges such as – a late repayment fee (whenever you miss the payment due date), broker fee (if you have used a broker to find the lender of your choice), security fee (in case you use a collateral). The list of fees may vary from lender to lender, hence, it is always wise to read the fine print before signing on the dotted line. 

Long-Term Loan Providers and Options

There are various lenders and financial institutions such as banks that offer loans for a longer term. Depending on your financial goals and who you want to deal with, you may choose your option carefully. 

Banks and Financial Institutions Offering Long-Term Loans 

There are various banks and financial institutions, which offer long-term loans with repayment periods of up to 30 years. The terms and conditions of these institutions may vary from one to another. Some banks may also ask you for collateral in case the sum you are borrowing is high. In that case, there is a chance you may lose the asset if you fail to repay the loan on time. 

Online Lenders Specializing in Long-Term Loans 

You may also choose to borrow a long-term loan from online lenders who specialise in this. LoanTube has partnered up with various lenders who are authorised by the Financial Conduct Authority (FCA). You can choose a lender whose offer aligns with your financial goals and borrow accordingly. 

Comparison of Interest Rates and Terms from Different Lenders 

Whenever you borrow any loan, you must compare the interest rates you are being offered from different lenders. It is because the evaluation criteria of lenders vary and hence, the interest rates you will be offered may also vary. You can compare multiple quotes from different lenders with a single application form at LoanTube. Another best thing about LoanTube is that the lenders will always show you real APRs. That means when you apply with us, the lenders will review and assess your loan application form and show you the APRs that wouldn’t change later on. 

Considerations for Choosing a Reputable Loan Provider 

When you are choosing a lender for borrowing a long-term loan, ensure that you are dealing with FCA-authorised lenders only. If you don’t there is a chance that you may become a victim of financial fraud. Also, collect reviews from past customers – check the internet for the words shared by the customers who had previously borrowed from the lender. 

Using Long-Term Loans for Different Purposes

A long-term loan is usually borrowed to cater to big-ticket item expenses, such as, buying a car or home, funding the education expenses of your kid, starting on a new venture to expand your current business, or consolidating your existing debts. You can use the amount you borrow for any of these purposes, or for something that is not listed above. The amount you borrow is high, hence, most borrowers use the funds to carry out a long-term life goal. 

Long-Term Loans Risks and Considerations

When you borrow a loan for a longer tenure, you need to understand that you will have the financial obligation to repay it till the loan is over. 

Let us understand this in detail. 

Long-Term Financial Commitments and Obligations 

While borrowing a long-term loan, you sign up for repaying the loan along with the interest. You commit to follow a schedule of repayment, mostly in monthly instalments. If the loan you have borrowed is secured and tied to any of your assets or property, failing to repay the loan on time may result in recouping of your asset by the lender or the financial institution. 

They may sell off your collateral to recover the remaining amount you are not able to pay them back. 

Potential Impact on Credit Score and Creditworthiness 

Another major factor that you need to consider while borrowing a long-term loan is your credit score. If you are well on the schedule of repaying your loan on time, your credit score will get a boost. People with bad credit scores may utilise this loan option to build a reliable credit history. 

However, failing to repay the loan on time will result in a poor credit score. If you continue to fail at repaying the loan, you may get a County Court Judgement (CCJ), which will stay on your report for years to come. This will severely impact your borrowing pattern in the future. 

Balancing Long-Term Loan Repayments with Other Financial Goals 

Before you sign on the dotted line, ensure you have a budget planned for the repayment. Also, the budget should be aligned with your other financial goals so that it doesn’t impact the way you repay the loan. Create and devise a budget according to your income and expenses. 

Long-Term Loan Repayment Strategies

Most people will have debt in some form, whether it is a credit card balance, a mortgage on their home, or an overdraft on their checking account. Debt isn’t necessarily a problem.

Debt can be beneficial if managed carefully because very few people could afford to purchase a home without a mortgage. A debt, however, has the power to take over and end lives if it is allowed to grow out of hand. 

Let us understand how to devise a long-term loan repayment plan to stay out of debt. 

Developing a Long-Term Loan Repayment Plan 

A budget is a plan that breakdowns your income and spending patterns so that you have a clear understanding of where your money is going and where changes may be made to lower expenses. It will help you increase the amount of money you have to pay off the debt.

A budget can potentially assist you in getting out of debt if you follow it and ensure that you don’t spend more than you earn. 

Early Repayment Options and Penalties 

You may prepay your loan if it is covered under the Consumer Credit Act (CCA). You have the option of making an overpayment to settle some of the remaining balance or paying off the loan in full to eliminate your debt.

You must speak with your lender to obtain a settlement amount if you wish to pay off your loan entirely. Your debt will be settled once you pay this sum. However, the lender may levy an early repayment penalty as you are closing the loan before the agreed date. It is because the lender will be losing out on the interest that you would have paid had the loan term continued. 

Managing Finances and Debt Effectively 

You might be able to shorten the time you take to repay your loan, which should result in you paying less interest overall as you repay your loan faster. However, as a result, your monthly payments would go up.

Find out your possibilities by speaking with your lender. It might consent to a loan reduction, but if it does, keep an eye out for modifications to your interest rate.

This is another way of managing your finances to reduce your debt effectively. 

Tips for Maximizing the Value of Long-Term Loans

Borrowing a long-term loan can help you steer through the financial obstacles that you are facing. However, to utilise the loan amount to its fullest and to stay safe when it comes to financial commitments around the debt that you are about to take on – we have a few tips for you. 

Assessing Loan Affordability and Repayment Capacity 

While you consider borrowing a long-term loan, you should also assess loan affordability. The amount you are planning to borrow has to be repaid by you along with the interest. Hence, you should know how much you have to repay each month and stay prepared accordingly. You can use a loan repayment calculator online to find out the monthly instalment amount you will have to pay when you borrow the loan. 

Understanding the Loan Terms and Conditions 

Read the fine print carefully and go through the terms and conditions proposed by the lender. If you do not agree to any of them, talk to your lender to change the Terms and Conditions. However, if the discussion doesn’t end in your favour, you may look out for another lender. 

Also, contact your lender immediately to get clarification on any of the points mentioned in the fine print before you sign the agreement. 

Seeking Professional Advice when Needed 

Numerous businesses and charities provide free, unbiased debt assistance and guidance. It’s possible to get some guidance in person, some over the phone, and some online.

Instead of getting further into debt by engaging fee-based debt-management businesses, it is preferable to receive free independent assistance if you are struggling to make your current debt payments.  

What is a long-term loan?

A long-term loan is one that usually gets paid back over years rather than months. However, most long-term loans have an average repayment period of two years or more. 

Long-term loans are frequently utilised for expensive purchases, including financing a car purchase or house remodelling. Additionally, they can be utilised for debt consolidation or emergency medical expenses.

How does a long-term loan work?

A long-term loan can be applied for through a similar application and approval process as other loans. You will first need to apply to a lender. After that, the lender will check your credit history and financial background to see if you qualify for a loan.

If you are accepted, you will be proposed an interest rate, time frame for repayment, and size of the monthly payment. You will sign a contract and start paying loan payments after you have agreed to the terms.

What is the difference between a long-term loan and a short-term loan?

The major difference between a long-term loan and a short-term loan is the duration. A long-term loan can be borrowed for more than 1-2 years. However, a short-term loan is generally borrowed for 12 months. 

What are the eligibility criteria for a long-term loan?

The eligibility criteria for borrowing a long-term loan will vary from lender to lender. However, most financial institutions and lenders will want you to be 18 years of age or above while applying for it. You also need to be a citizen of the UK with a regular and steady source of income to pay back the loan. 

How much can I borrow with a long-term loan?

You can borrow up to £35,000 with a long-term loan. However, the maximum amount you can borrow from a lender depends on a variety of factors – your credit score, and repayment horizon among others. Some lenders may have a maximum limit of more than £35,000 as well. 

What is the interest rate for a long-term loan?

The interest rate is set and proposed by the lender after assessing your loan application form. The interest rate will be decided basis your credit score, the loan amount you are borrowing, the time you will take to repay the loan, and the type of loan you are borrowing. 

How long is the repayment period for a long-term loan?

Most lenders offer a repayment period of up to 30 years. However, check with the lender once before you borrow a loan to understand the maximum period they will offer you to repay the loan. 

Can I repay a long-term loan early without any penalties?

It depends on the lender. However, lenders generally charge an early repayment penalty to recover some of the money they would have gained if the loan term had continued as per the agreement. 

 

What are the fees and charges associated with long-term loans?

You will have to pay the interest fee, a loan origination fee, a broker’s fee (in case you are borrowing through a broker), and an early repayment fee for a long-term loan. The fees and charges of a loan depend on the lender as well, hence, it is considered wise to check with them once before you borrow. 

What documents do I need to apply for a long-term loan?

Most lenders will ask you to share documents proving your citizenship, age, identity, residency, and employment. However, after you apply for a long-term loan, the lender may ask for some additional documents to better review your application form. 

Can I get a long-term loan if I have bad credit?

Yes. You can borrow a long-term loan with a bad credit score. However, the interest rate may be a bit higher due to the credit history you have. 

Can I use a long-term loan for any purpose?

Yes. You can use the long-term loan for consolidating your existing debts, or to finance a new car. It depends on how you use it, except for any illegal activities. 

Can I get a long-term loan if I am self-employed?

Yes. Some lenders offer long-term loans for self-employed people. You will have to prove your repayment capability to the lender in such a case. If they are convinced, your loan application might get approved. 

Can I get a long-term loan if I am retired?

Yes. Retired persons may get a long-term loan if they have collateral to offer to the lender. However, not all lenders may agree to such a set-up. Check the eligibility criteria of the lender before applying to understand if they lend to retired persons. 

What happens if I miss a payment on a long-term loan?

If you miss a single payment on your long-term loan, the lender will charge you a late payment fee. You may talk to the lender and ask them to waive it off, in case it was unintentional and you just forgot to make the payment. If you repeatedly miss the repayments, your credit score will take a hit. And continuing to miss the repayments may lead to recouping your asset (if involved). 

Will taking out a long-term loan affect my credit score?

Yes. When you repay the loan on time and in a regular manner, you get a chance to build a strong and reliable credit history. If you miss the repayments, it will slash points from your score. 

How does a long-term loan compare to other types of loans?

With a long-term loan, you can borrow for a longer tenure as compared to other loans. 

Are there any alternatives to long-term loans?

You can consider borrowing personal loans and repaying them by spreading the cost of repayment over years rather than borrowing a long-term loan. 

Can I use a long-term loan to consolidate my debts?

Yes. A long-term loan can be used to consolidate your existing debts.

How do I choose a reputable lender for a long-term loan?

Check if the lender is authorised by the Financial Conduct Authority (FCA) and also gather reviews by the customers who had dealt with the lender previously to determine if the lender you have chosen is reputable and safe to go ahead with. 

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Indicative Loan Details

Loan Amount

£

Loan Term

Months

Total repayment

£

Monthly repayment

£

RAPR

79.5%

Interest

59.97% p.a (fixed)

*The rate you get will depend on your individual, financial circumstances. Late repayment can cause you serious money problems. For more information, go to moneyhelper.org.uk.

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Representative APR Example

The rate you are offered will depend on your individual circumstances.

Representative APR Example: On an assumed loan amount of £1,000 over 18 months. Rate of interest 59.97% per annum (fixed). Representative 79.5% APR. Total amount payable £1,554.10 of which £554.10 is interest. 17 equal monthly repayments of £86.09, and the final month’s payment of £90.57.

Some of the offered loans might be classed as High Cost Short Term Loans. APR rate starts from 18.22%. The maximum APR rate is 1721%, but you will get a personalised rate tailored to you. The minimum repayment term is 3 months, the maximum repayment term is 7 years. The minimum loan amount is £250 and the maximum loan amount is £35000.

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

Credit subject to status & affordability assessment by Lenders.

LoanTube is a credit broker and not a lender.

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.

Not all borrowers will qualify for a loan. The operator of this website does not engage in any direct consumer lending, we simply provide you a FREE loan brokering service. This means LoanTube does not charge customers a fee for using its introducer services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with them following an introduction by LoanTube.

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