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Expertly compared by Daniel Tannenbaum

Products Updated August 26, 2021

The actual rate you're offered will depend on your personal circumstances – including your credit rating.

16 providers expertly compared:

Natwest Bank

Loan Amount
£7,500 - £19,950

Annual Percentage Rate (APR)
3.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.8/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.9%

Total repaid will be:

£50,805

With the Natwest if you're thinking about buying a new car, getting your your finances in order or making some new home improvements then a loan from the Natwest could be just what you need.

Representative Example

16 providers expertly compared:

Royal Bank of Scotland

Loan Amount
£1,000 - £50,000

Annual Percentage Rate (APR)
3.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.9%

Total repaid will be:

£50,805

To apply, you must be 18+ and a UK resident with a Royal Bank of Scotland current account (held for 3+ months). Borrowing money is a big decision. But with a personal loan from the RBS, it doesn't have to be a headache.

Representative Example

16 providers expertly compared:

Paragon Bank

Loan Amount
£10,000 - £250,000

Annual Percentage Rate (APR)
3.7%

Loan Term
1 - 30 years

Loan Type
Secured & Unsecured Loans

Status
Homeowners & Tenants

Rated 4.7/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£50,805

Paragons finance packages contain flexible terms to make sure you get a deal that's right for you. From personal loans to second charge mortgages Paragon has a range of funding solutions

16 providers expertly compared:

Hastings Direct

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.8%

Loan Term
0 - 5 years

Loan Type
Unsecured Personal Loan

Status

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.8%

Total repaid will be:

£50,805

If you're looking to replace your car, planning on some new home improvements, or you simply wish to get your finances in order, a personal loan from Hastings Direct could be the funding solution you're looking for.

Representative Example

16 providers expertly compared:

Prestige Finance

Loan Amount
£10,000 - £250,000

Annual Percentage Rate (APR)
3.8%

Loan Term
1 - 30 years

Loan Type
Secured Loans

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.8%

Total repaid will be:

£50,805

Prestige Finance is part of OneSavings Bank who are a specialist lender, primarily focused on carefully selected sub-sectors of the mortgage and loan market through an integrated multi-brand approach.

16 providers expertly compared:

Post Office

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.1%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.1%

Total repaid will be:

£50,805

Loans from the Post Office are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. Terms from 1 year to 7 years, depending on the amount borrowed and funds could be transferred the following day with an instant lending decision in most cases.

Representative Example

16 providers expertly compared:

AA Loans

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
3.1%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

3.1%

Total repaid will be:

£50,805

The AA don't just keep cars on the road, they can help keep your finances running smoothly too. Whether it's a new purchase, a holiday in the sun or getting some help to manage your existing debt the AA is here to help with a personal loan.

Representative Example

16 providers expertly compared:

Leap

Loan Amount
£100 - £15,000

Annual Percentage Rate (APR)
4%

Loan Term
1 - 6 years

Loan Type
Peer-to-Peer Loan

Status
Homeowners & Tenants

Rated 4.8/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

4%

Total repaid will be:

£50,805

Leap's aim is to help streamline your debts with a low-interest peer-to-peer loan, so you’ll have more money to do more of what you love doing.

16 providers expertly compared:

Lending Works

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
7.9%

Loan Term
1 - 5 years

Loan Type
Peer-to-Peer Loans

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

7.9%

Total repaid will be:

£50,805

Lending Works is a peer to peer lender that connects people that want to invest their money with borrowers who want to get a better rate on their personal loan. Loans available from £1,000 to £25,000 over 1 -5 years.

16 providers expertly compared:

Zopa

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
9.9%

Loan Term
1 - 7 years

Loan Type
Peer to Peer Lender

Status
Homeowners & Tenants

Rated 5.0/ 5

Good Credit

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

9.9%

Total repaid will be:

£50,805

Zopa directly match people looking for a personal loan with people looking to invest. It's their way of making money simple and fair. Since 2005 Zopa have approved a staggering £2.92 billion in loans.

Representative Example

16 providers expertly compared:

My Community Finance

Loan Amount
£1,500 - £25,000

Annual Percentage Rate (APR)
23.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.5/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

23.9%

Total repaid will be:

£50,805

My Community Finance have taken inspiration from the past to build a better financial future - where community matters. They’re a network of Credit Unions and ethical lenders. My Community Finance looks to give everyone access to fairly priced financial products.

Representative Example

16 providers expertly compared:

Lendable

Loan Amount
£1,000 - £25,000

Annual Percentage Rate (APR)
27.9%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.3/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

27.9%

Total repaid will be:

£50,805

Lenable offer fast loans at fair rates. See your rate before you apply - it won’t affect your credit score. Lendable offer a paperless application with instant quotes. You can manage your loan online, top up, repay early without a settlement fee.

Representative Example

16 providers expertly compared:

Oplo

Loan Amount
£2,000 - £15,000

Annual Percentage Rate (APR)
18.2%

Loan Term
2 - 6 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

18.2%

Total repaid will be:

£50,805

Oplo Personal Loans offer unsecured personal loans from £2,000 to £15,000. Whether you’re looking to buy a new car, a new kitchen or thinking of any type of major purchase they can help secure the funding you need.

Representative Example

16 providers expertly compared:

Koyo

Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £7,500

Annual Percentage Rate (APR)
27%

Loan Term
1 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.4/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

27%

Total repaid will be:

£50,805

Koyo offers one-day loan approval and they normally give a decision after 1 full working day. Once approved, Koyo says the money could be in your account within 1 working day.

Representative Example

16 providers expertly compared:

Everyday Loans

Loan Amount
£1,000 - £15,000

Annual Percentage Rate (APR)
93.6%

Loan Term
2 - 5 years

Loan Type
Unsecured Personal Loan

Status
Homeowners & Tenants

Rated 4.3/ 5

Poor Credit

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

93.6%

Total repaid will be:

£50,805

With everyday loans, you're more than just your credit score. Here at everyday we look at your credit future, not just your credit history. As such even if you have bad credit now or you've had a poor credit score in the past, we may be able to help.

Representative Example

16 providers expertly compared:

Buddy Loans

Loan Amount
£999 - £10,000

Annual Percentage Rate (APR)
49.9%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status

Rated 4.2/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Annual Percentage Rate (APR):

49.9%

Total repaid will be:

£50,805

At Buddy Loans their goal is to pay out your money on the same day of the application and they will still consider your application if you can afford it, even if you have CCJs or DEFAULTS. Buddy Loans can be used for any purpose such as debt consolidation, car purchase or home improvements.

Representative Example

Read our customer and visitor reviews for this product:

Rating: 4.5 / 5 with 2 votes

Good comparison

by Mandy Thomson

Good comparison service and lenders to choose from. Easy application form.

Plently of loans to choose from

by SL

These facility by Feasible.co.uk provided many solutions and gave me choice of several lenders as part of the search. Vey fast and no issues using them. Quick to phone me back also.

Long term loans give customers the added flexibility to spread repayments over a longer period of time, with options to repay over 1 to 30 years. Rather than committing to a short term loan over a few weeks or months, the ability to extend repayments over time can give you much needed breathing space and help you stay on top of your finances.

With longer term loans, you can also borrow more, since repayments are spread over long periods, with the option to borrow £500 to £1 million, with security required.

At Lending Expert, we work with the whole of the UK lending market, allowing you to select the right product for you, whether it is a long term loan with low interest rates, bad credit or no guarantor – we have a range of secured and unsecured options available.

Use our comparison table provided and choose the lender with the best terms for you. You can apply for loans over 12 months, 24 months, 3 years, 5 years or 10 years if you prefer – simply click on “Check Your Eligibility’ and you will be taken to the lender’s website where you can apply directly.

All applications are completely online and free to complete. You will usually get an instant decision and, subject to further checks, you can receive funds in 24 to 48 hours (unsecured) or in under 2 weeks (secured).

 

Key Features of Long Term Loans 

  • Borrow £500 to £1 million
  • Rates from 2.9% (unsecured) and 3.34% (secured)
  • Repaid over 1 to 30 years
  • Flexible monthly repayments
  • All credit histories considered
  • No early repayment fee
  • No impact to credit score
  • No guarantor options available

 

Types of Long Term Loans 

At Lending Expert, we compare long term loans that are both secured and unsecured. When it is a secured loan, you are borrowing against something value you own, typically a property, house or flat. However, it is noted that your property may be at risk of repossession if you cannot keep up with repayments.

With an unsecured loan, you are not securing your loan against anything and your eligibility is based on factors such as your income, credit status and affordability.

 

This includes:

  • Debt consolidation loans
  • Home improvement loans
  • Personal loans
  • Secured loans
  • Second charge mortgages
  • Unsecured loans 

 

What Are Long Term Loans Used For?

Long term loans can be used for a variety of reasons, including things like paying off school tuition, holidays, engagement rings, weddings and starting a business. If you are looking to fund a special occasion, you can receive funds upfront to enjoy your celebration and then have the peace of mind knowing that you have several years to pay it off.

For those with a lot of debt outstanding, you can use debt consolidation loans as a way to put all your existing credit cards and loans into one single repayment every month. This makes it more practical and efficient to pay off your debts and eventually become debt-free. 

Whether you are looking to spruce up your kitchen, bathroom or add a loft conversion to your home, many UK households use home improvement loans, both secured and unsecured. The nature of building work can take several months or years and so it makes sense to borrow money for a long term. In fact, by the time you pay off the loan in 3,5 or 7 years, you may find that your property is worth even more and you have made a profit.

Thousands of Britons use commercial business loans to help set up their company or use the injection of funds to stay on top of their cash flow. The opportunity to apply for a long term loan can give your business some much needed time to grow and maintain a healthy balance before paying it off in full. 

 

What is The Eligibility Criteria for a Long Term Loan?

  • Over 18 years of age
  • UK resident
  • Employed, stable income and able to make monthly repayments
  • Valid UK bank account, mobile phone and email address
  • Will need to own a property (for secured loans)
  • Will need a good or fair credit score (for unsecured loans)

 

What Information Do I Need to Apply?

To apply for a long term loan online, you can select the lender of your choice and you will be taken to their website and asked to fill in some information.

Start by entering a few basic details including your name, age, address, income, expenses, loan amount and how long you wish to borrow for.

Your loan will be subject to status and may require proof of income through a bank statement or pay-slip, although each lender may vary.

If you are looking at a secured loan option, you will need to give information about your home including proof of ownership, estimated value of the property and your equity in the property.

 

How Long Can I Borrow For?

  • 6 months
  • 12 months
  • 18 months
  • 24 months
  • 36 months
  • 48 months
  • 60 months
  • 1 years
  • 3 years
  • 5 years
  • 10 years
  • 15 years
  • 20 years
  • 25 years
  • 30 years

 

Can I Get a Long Term Loan with Bad Credit?

Long term loans for bad credit histories are available for those with less than perfect credit scores. To be eligible for a long term with bad credit, you can use a guarantor and secure the loan against your home or car to provide extra security. These options will be presented to you when you apply with one of Lending Expert’s featured lenders.

 

How Do I Get a Long Term Loan with a Low Interest Rate?

If your loan is unsecured, you can access low rates of APR if you have a good credit score, stable income and good affordability. This indicates to the lender that you are low-risk to lend to and therefore you could be rewarded with rates starting from just 2.9%.

If you prefer to use a secured loan, there are low rates still available, but this will be based on the value of your property and how much equity you have in it. If the property is valuable and you have sufficient equity, topped with a good income and credit score, you will be able to secure low rates from around 3.34% APRC

 

How Do Repayments Work for Long Term Loans

The repayments for long term loans are usually in equal monthly instalments, so you know exactly how much you are paying back each month – and the collections will be taken automatically from your account on a date that you specify for 1 year, 5 years, 10 years or longer.

Your loan repayments are a combination of capital and interest – and accordingly the longer you loan is open for, the more interest that accrues over time. Hence, it might be important to think about how long you need the loan for and avoid borrowing for longer than necessary.

If you are able to repay your loan early, you will always be able to do so – and you will typically save interest overall on the interest accrued. You will just need to contact your lender directly and this can be completed and repaid early. For larger and secured loans, there may be early penalty fees if you wish to end after just a few months – so be sure to check this in the terms and conditions.

 

How to Apply for Long Term Loan with Lending Expert

You can apply for a long term loan online using our price comparison table provided – to compare the loan duration, loan amounts and repayment examples. Simply click on ‘Check My Eligibility’ with the lender of your choice to get started. There are no fees for applying with partners of Lending Expert and there will not be any impact to your credit score.

You will be required to enter some simple details about yourself and you will receive an indicative quote on the screen.

Depending on the lender you choose and whether it is secured or unsecured, the process can be very fast (unsecured) or take just a little longer (secured) in order to verify and confirm details about your property. With an instant decision and funds available within days or weeks, Lending Expert is delighted to help find the best long term loan for you.

FAQ

Lending Expert can help you borrow £500 to £1 million with unsecured and secured options available.

Loans are repaid over 1 to 30 years, with unsecured loans typically lasting around 1 to 7 years and secured loans lasting up to 30 years.

An application takes just 5 minutes to apply online and get a provisional decision from one of our partnered lenders. Unsecured loans can typically be completed in under 48 hours, but secured loans can take 2 to 4 weeks.

Yes, we work with direct lenders only, so your application will be with an FCA regulated lender from start to finish.

Yes, we have unsecured and secured options available, so you have plenty of options and do not require a guarantor to be added to your application unless stated so.

No, our partnered lenders use a soft credit search which will be disappear from your credit record shortly after and this will not have any impact on your credit score.

Yes, you will always have the option to repay your loan early and you can contact the lender directly to clear your account. It is noted that with some secured loans, there may be an early repayment charge if you terminate within a specified time range.

Yes. Most lenders consider self-employed and sole trader applicants as long as you can show a proof of income from either your business or dividends as a company director.

If you cannot repay your loan, you will incur late fees and it will negatively impact your credit score. If you have borrowed a secured loan, this could lead to your property being repossessed.

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