Long term loans.

Looking to borrow over a longer term?

Check your eligibility and apply now for loan terms of up to 10 years.



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Representative 49.7% APR. Representative Example: Amount of credit: £1,200. Interest rate: 0.34% per day for up to 75 days (25.5% (variable) per annum). Representative 49.7% APR (variable). For example, if you borrow £150 for four days, the interest per day would be £0.51 and the total interest would be £2.04 representing four days at £0.51 per day.

Long Term Loans

Long Term Loans - What to expect

A long-term loan isn’t a predetermined length of time and can really range anywhere from 12 months to 30+ years! However, for most personal unsecured long-term loans, you’re looking at about one to 15 years.

With long-term loans, lenders consider it more of a risk because they have to trust you for a long period of time. For loan terms from 15 years onwards, the loan will normally be secured against an asset, like a mortgage, which lowers the risk to the lender.

Depending on your personal situation, credit history and requirements you could borrow £1000 and over with a long term loan. These factors also determine what interest rate lenders decide to charge you.

Long Term Loans for Bad Credit

Even with a bad credit history, you could still get a long-term loan. You can use the comparison table above to filter the lenders to those that offer loans for customers with bad credit.

However, bad credit loans will charge a higher APR so as always, make sure you can afford repayments and you have considered all your options.

As always, when applying for a loan it is very important to make sure you can afford the repayments before you apply. Any doubt, don’t apply.

Late repayments can cause you serious money problems. For help, go to the Money Helper.

Can I get a long term loan with no guarantor?

If you have bad credit, chances are, you’re more likely to be accepted for a long term loan if you recruit a guarantor, but use our eligibility checker to get a good idea of who might accept you first. You can compare options that don’t require a guarantor with our no guarantor loans comparison table.

Although it is possible to get a bad credit long-term loan, you will end up being charged more interest because you are considered ‘high risk’. It might be worth checking out ways to improve your score, especially if you don’t need the loan immediately.

Can long term loans be paid back early?

Depending on the terms and conditions your lender sets out for you in your loan agreement, it is possible they will allow you to make overpayments or pay your loan off early. Make sure you’re clear about any fees before you sign your loan agreement.

By paying off your loan early, you can save yourself money as you’ll be saving on interest. However, this isn’t the option for everyone so take care and compare all your options before jumping in.

We’ve got a flexible loan comparison table so you can compare lenders that allow early and over repayments with low or no fees.

Final Word

If you’re looking to borrow a large amount of money, repaying over a long loan term can be a much more affordable and manageable option. Make sure you compare your options and if you haven’t already, get to know your finances with our budget planner.

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