For Instant Long Term Loans, read on further and find out how to get started.
There is currently a move away from the short term small fast cash loans like Payday Loans that have to be repaid in full on your next pay day.
It is no wonder, as a lot of payday loan companies in the past charged high fees and interest on top of interest and if a borrower did not cleaning his or her nose properly!
That might be an exaggeration, but they certainly were very unscrupulous in their dealings with borrowers and if a repayment was late by even 1 day, they piled on the fees and charges to a ridiculous level.
Thankfully the new Financial Conduct Authority rules have stopped this shark-like practice and if you choose a payday loan lender that is registered and approved, like the ones we promote, you a covered by the new policies which restrict the interest and fees the lenders can charge.
Need Long Term Loans Now?
The shift is towards Long Term Loans and these can also be longer term loans for small amounts or larger amounts as well.
The Payday Loans were popular because they were fast and you got your money quickly into your own bank account the same day and sometimes within minutes.
However, you are now still able to get the same values as Payday Loans which is normally up to 1,000 pounds, but you are able to spread the repayment period over a longer term. Our payday loan lenders can lend up to £2,000.
Larger Loan Amounts and Longer Time
We have lenders for loans for the longer term that will lend up to £25,000 and have the cash into your bank account within 48 hours, but you can repay over months or even years.
This is a much more affordable way of getting a loan and there are not the penalties and extra fees charged as you do not have to roll the loan over.
No roll over on these types of loans is a big benefit, as when you take the loan out initially, you decide how long to repay it back over, so you know you can afford the payments each month.
The interest rates used are fixed rates, so your monthly repayments will stay exactly the same throughout the repayment period.
Long Term Loans are a win win situation for new loans
Do not worry if you have some adverse credit in your credit history either, as we have UK approved and registered lenders that are keen to lend, providing you can meet their terms and conditions.
Lenders look for a regular income each week, each 2 weeks or each month and if you are currently employed, what could be more regular than a wage coming in. They will also look at the self-employed and people on benefits, providing they can see regular payments coming in each month.
Have a look at the products that are available and get your loan application for a new extended repayment period loan started today.