Long Term Loans – Guaranteed Approval on Collateral or Income Only

Having trouble while coping up with the process of reimbursement of loans?

It is something money borrowers face frequently. Everyone Loan UK resolves the issue by providing its customers with long term loans with an extended period for repayment to ease the strenuous process otherwise.

The need for long term loans is often realised when someone is facing a severe financial problem. Unemployment is indeed one of those issues that distract all your financial balance.

We, as a responsible loan provider in the UK, know all these problems of our prospective borrowers. By keeping in mind the condition and hardships of our customers, we provide the long term loans for bad credit and unemployed people. You only need to pledge the collateral and get the features like:

  • Lower monthly repayment
  • Lower interest rates

Since our inception, we are determined to offer you the best financial assistance that fulfils your need for a larger sum of money.

Why Do You Need for a Long Term Loan?

Everyone Loans UK has the understanding of what situations or purposes compel you to apply for the loans available for a more extended period. These can be:

To buy a new home
To live in your own house can be your ever-living dream. But, is finding the money the hurdle in between?
Stopping yourself is not an option anymore because long term personal loans usually exceeding 12 months, depending upon the type of loan you apply for. The maximum limit largely depends upon the lender’s policies or the requirements of the borrowers.

To improve the credit ratings
Does your financial profile include a bad credit? Not a thing to brood upon as getting the money credited in your bank account is easy and facile through our incredible deals on the long term loans for bad credit people. You get competitive rates of interest and other terms on your current financial capacity. We are here to lend money on your comfort.

To Borrow on more manageable obligations
Finding a guarantor and making the person show his trust towards you, especially when you have poor credit, can be gruelling. Keeping your desires at stake is what we, as a lender, would never want. Customers are provided with the same with long term loans with no credit check and no guarantor as the exemptions.

What are the Advantages of Long Term Loans at Everyone Loans UK

We provide long term loans on many benefits, and some of them are:

  • Everyone Loan UK is the place where you have the chance of getting 100% loan approval on your application if you are sincere to your present financial state. No more denial and you can quickly get rid of your financial constraints.
  • Obligations are necessary, but not mandatory. If you do not have a guarantor or collateral, then we do not have any issue. We are ready to accept your loan application based on your income capacity.
  • The loan applications of those individuals, who are facing continuous denials due to their poor credit record, are also taken into consideration. We follow the unbiased lending policy where doors are open for everyone, from good credit to low credit.
  • You can use the borrowed amount after getting the job because time will be consumed to get the finances back on track.

Can I Get A Long Term Loan To Start A Business?

Unemployment suddenly changes your good times into the bad ones. In that case, if you wish to start a business, it can be challenging for you. Why?

Finding funds for a new business is always a “task”, and you do not know whether you should risk the money and time or not. In such a confusing moment, helping the borrowers is our primary concern. Thus, we provide loans to longer-term facilities that will assist you in locating your own company in the UK.

An issue of a poor credit score automatically emerges when it comes to unemployment. Exceeding needs and being low on income can be the reason for the same.

Unlike other credit lenders, we do not leave the hands of our needy borrowers at the time they need us the most. Aiming at their welfare is the job and the task. Without any bias treatment, these people are given approvals to their application for the long term loans on no guarantor basis.

Short Terms Loans vs. Long Term Loans

Being a new borrower can end you up in a situation where choosing the one from long term loans and short term loans can be laborious. To get rid of the situation, here are some points to help you make the right choice -

Short-Term Loans Long-Term Loans
Short term loans are the ones requiring payments within a period less than a year. Long term loans are the ones extending to a period that is over one year.
The interest rates in the case of short term loans are relatively higher. The long term personal loans attract low-interest rates for the borrowers.
Loans on a short term period are useful for smaller needs like a vacation, education, or medical bills. The loans over a long term period are suitable for needs like buying a new car or a new home or business.
The short repayment period can make the repayment process a little complicated to manage. Long term loans do not have such trouble for the loan applicants.

Everyone Loan UK never stands behind. Instead, it is always standing ahead to help borrowers with the best possible loan deals. The long term loans illustrate what we are aiming to do.

FAQs

What are Long Term Loans?

Long term loans are a type of financing in which the repayment period is longer than a year. Generally, it may vary from three years to 15, 20, 25, 30 or more. These loans are taken out to fund big expenses such as business expansion, buying a home or a commercial building, purchase of equipment or fixed assets. Every month you will pay down certain amount of money. As the debt is to be paid over an extended period, it carries lower interest rates. To secure long term loans, you may need to put collateral.

Can I get Long Term Loans from Direct lenders?

Yes, you can apply for long term loans with direct lenders. You just have to fill out and submit the loan application. The lender will quickly glance at your profile for initial-approval stage and then you will submit your income statement. In addition to your repayment capacity, the lender will also go through your credit report. If your credit standing is good, you will get these loans at lower interest rates. Direct lenders do not waste time in unnecessary documentation. They disburse money the same day when you apply for the loan if they are convinced with your repayment capacity.

How can I get a long term loan with bad credit?

Traditional lenders will not approve your application if your credit history is not stellar, but direct lenders provide long term loans for bad credit with no guarantor. However, interest rates for such loans will be higher as compared to good credit borrowers. You do not need to arrange a guarantor because the collateral mitigates the default risk. If you fail to repay your loan on time, the lender can liquidate the security to recover the amount of debt. In case of bad credit history, the lender may ask you to secure your loan with an asset of higher worth.

How many years can I get a personal loan for?

There is no fixed length when it comes to a personal loan. The length of these loans can be anything like three, four, five and more. It depends on the size of your loan. If you are taking out personal loans for small period, for instance, not more than a year, you do not need to arrange a guarantor and collateral. Such loans are called unsecured loans. If you need money to fund your big expenses, you will have to put a security. Such loans are called secured long term loans.

What are the advantages of long term loans?

One of the biggest advantages of long term loans is you will have longer repayment period, which means you will pay down a small chunk of debt every month as an instalment. Therefore, they are easy to manage without falling behind repayments. Since these loans are secured, they carry lower interest rates. However, you will end up paying more amount of money as interest in total. You can finance any big expense with these loans. Whether it is property purchase or buying a home, you can use the amount to fund any of your need.

Can I get long term loans for bad credit with no guarantor?

Yes, you can get long term loans for bad credit with no guarantor. A bad credit score may reduce your chances of getting a deal at lower interest rates, but it will not discourage you from applying for these loans. A direct lender will never ask you to arrange a guarantor even if you are applying for bad credit log term loans because the collateral can mitigate the risk of lender. The lender holds the right to liquidate the security to recover the whole of the unpaid amount if you do not pay back it on time.