12 Month loans online provide you an option to get extra cash in few clicks, even via your smart phone. When you are in need of urgent money then time is also decisive factor. Searching loans by physical means is time consuming as well as conveniences expenses are also involved. This online facility is very helpful to persons, who have no time to visit direct lender’s office or shop.
This online mode of 12 Month Loansis paper less way to apply fund, as no guarantor is required so loan deal is very smooth and fast. As credit check is done by the lender directly so all type of credit persons can apply for loan.
12 month loans are a combination of 12 Month Payday Loans and installment loans, means you can choose number of repayment months with due date of your each payday.
For bad credit borrowers who have small income per month 12 Month Loans Bad Credit is one of the best option, because as the term increases the monthly repayable amount will be go down. For high sum with low installment, loan over 12 month is good choice.
12 month cash loans approvals depends on applicant’s monthly wedges and loan repayment capacity so guarantors are not asked by the lenders. Home ownership is not pre-condition for these funds.
Who is eligible? Every UK citizen above 18 of age has a regular employment and getting salary in a active bank account is eligible for these loans.
What will be the loan cost? FCA has fixed the interest limit for short term loans as 0.8% per day, means for every 100 pounds loan you have to pay 24 pound as interest for 30 days.
Why interest rates are high? As these loans are unsecured and high risk loans from lender’s point of view so these are on the higher side in comparison to secured loans.
Who should avoid these loans? The persons who have already taken loans and unable to repay that should never try for these loans otherwise they may get trapped in loan spiral.
What about term other than 12 month? Loan term is fully flexible so you can opt any term from one month to 12 month of course 3 Month Payday Loans Bad Credit and 6 Month Payday Loans Onlineare very popular.
What is limit of loan amount? In general 100 pound to 1000 pound loans are disbursed under this category but higher loans are also available with some lenders.
What if poor credit score? For short term and unsecured loans, credit score is not a hurdle. If you have good financial status as of now so that you can easily repay your loan installment then bad credit is OK.
Now it is mandatory to all lenders to check loan affordability of each borrower before loan approval, this is their reasonable lending policy. In accordance with this policy lenders perform credit check on all applicants to judge their suitability of loan so we cannot promise for 12 Month Loans No Credit Check.
What is time taking in payouts? After loan approvals, the fund is directly sent to the bank account of the borrower via electronic payment mode, which is almost real time. In many cases same day payouts are possible in 12 month or over 12 month loans.
How the process works:
We at 12 Month Loans Online provide our site visitor an online loan search platform 24/7 and free of cost. You can apply here by giving basic information in attached form. We will not hold your data with us and pass it directly to our associated lenders, which are licensed by FCA for direct lending.
After verifying your details lenders will underwrite loan risk and accordingly the send you the quote. They may ask more details from you if required so. Getting loan quote is free and this will not affect your credit score, so you are under no obligation to proceed further. Compare loan deals with many lenders as you wish and take your own decision.
If you agree to sign the deal with our lender, they will explain terms of agreement. Take your own time to understand all and if you have any doubt then do not hesitate to take clarification in writing.
Lender will also send you the loan repayment schedule, you have to repay according to this only. If at any stage you feel uncomfortable in on time payment, inform your lender immediately to avoid any or all of following loss.
- If you fail to repay on due date the lender may opt for services of third-party recovery agents, then you have to pay these charges with your outstanding amount.
- Lender may send your name to credit score agency for adverse entry, this will downgrade your credit score.
- Lender may go to country court against you then you have to bear all expenses with penalty.
We at 12monthloansonline manage this website to assist loan seekers with all related information in one place and provide them an online loan search platform to save their time and resources. We are not a brokers or direct lenders and have no role in loan approvals. We cannot guarantee about loan amount, approvals and time of payouts which may vary from one lender to other.
We do not store visitor’s information or data in any form and forward data as it is to a group of associated lenders, they all are responsible firms which have all related licenses and authorizations.
For any pre or post loan funding query please contact to your lender only. We never disturb our visitors by calling or mailing them.
As you know these loans are unsecured means no guarantor, collateral or pledge is required. This makes these loans popular in low income and bad credit segments and the same time high risk nature of loans makes them costly. So it is advised to all applicants that they should not use this as a regular source of funding. Also they should restrain from unnecessary high loan amount.