Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

Flexible 12 month Loans Furnish Fast Cash with Twelve Months to Pay

Online lenders specialise in short-term finance, offering diverse credit opportunities for UK applicants. From traditional payday loans, bridging finance needs between payslips, to bad credit financing, assisting consumers with imperfect credit; UK borrowers can choose from several short-term funding solutions. Among the resources available to online applicants, 12 month loans provide fast cash, with flexible repayment, spanning a 12 month period.

How Does a 12 month Loan Compare to Other Types of Finance?

Each personal funding need calls for careful financial consideration. Answering a few questions about your finances can help you select the best available loan for your needs.

  • How much money do you need? – Flexible online lending alternatives furnish small loans for immediate expenses. The loans are not well suited for extended finance needs, such as mortgage financing. Rather, 12 month loans and other fast funding are a good fit when you need less than a few thousand pounds or need money now.
  • How much time do you need to pay the money back? – Short-term loans are often paid back within weeks or months of borrowing. 12 month varieties offer a longer repayment period, for conditions requiring a little extra time to make good on a loan.
  • Can you afford to repay the loan? – Each person’s financial circumstances are unique, so it’s up to you to work out the maths, before opening new credit. Taking a 12 month loan only makes sense if you’re in a position to make timely monthly payments, until the entire debt has been satisfied. The flexible repayment terms provide more time to pay than 6-month loans, 3-month loans, and some other short-term payday loans; failure to repay your loan on time may result in negative credit reporting.
  • Do you need the money right away? – Online lenders specialise in fast funding, so 12 month loans are a good choice when you don’t have time to wait for traditional approval. A rapid pre-approval process moves your loan application forward, without delay. Online lenders quickly fund qualified loan requests, transferring money directly to your current account.

How much would you like?

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable). 

Do I Need Perfect Credit to Get a 12 month Loan?

The short answer is “no,” but lenders may consider credit references before offering a £300 loan.

Credit reference agencies such as Equifax and TransUnion compile records about consumer credit. The agencies don’t decide whether or not you are approved for financing, but they do provide information to creditors, detailing your personal credit history, as well as furnishing a comprehensive financial profile, upon request.

12 month loan today

Each credit reference agency maintains distinct records, but your credit references should be fairly consistent across agencies. Your credit file is composed of facts, figures, and information about your past and present credit relationships. You can expect your credit file to reference:

  • Active Credit Accounts – Credit card accounts, equity lines, revolving store cards, and other open credit lines are monitored by credit agencies, keeping track of your open and active accounts. Too many open lines of credit can work against you when applying for conventional financing at banks; online lenders are more concerned with your earnings and ability to pay.
  • Account Balances – Current debt balances are recorded in your credit file, reflecting an up-to-date outstanding total, at any given time. The information is important to lenders, because too much existing debt may interfere with your ability to repay new credit obligations.
  • Payment History – In addition to tracking payments on active accounts, your credit file also contains information about payments made on past accounts. A history of late payments works against you, lowering your overall credit score. You may be able to restore your score, over time, by paying on-time and effectively managing credit opportunities. Though payment inconsistencies result in a lower credit score, you may still be approved for a 12 month loan online.
  • Personal Data – Your legal name, recent addresses, and date of birth are included in credit reports requested by lenders, helping them confirm your identity and qualify your application.
  • Legal Actions – Creditors typically offer a grace period for making timely payments. When payments lag and delinquent accounts linger for a period of time, lenders may ultimately pursue legal action to recover outstanding balances. County Court Judgements (CCJ) and other collection remedies show up in your credit file, taking a toll on your score. To avoid legal action, always pay timely, and when problems do arise, address them directly with creditors – lenders may be willing to extend extra time, before following through with legal remedies.
  • Bankruptcy and House Repossession – Requesting bankruptcy is a drastic measure, providing protection when personal finances fall apart. Though the move has costly consequences, impacting your credit score, you may choose it as a last resort. Similarly, having your house repossessed is another action resulting in a serious credit downgrade. These and other negative financial milestones are part of your credit file, which may cause banks and building societies to pass over your loan application.

How Does Omacl Compare?

Why Use Us?
How much can I borrow?
Up to £5,000
No hidden fees
Chance of getting approved?
High approval
What are the repayment terms?
1 - 36 Months
No paperwork.
How do I apply?
Apply Online
2 min Application
Do I need to pay back a lump sum?
Easy repayments

Are There Spending Restrictions?

Flexible online funding serves diverse spending needs. Illegal activities are, of course, off limits, but other than you can spend your 12 month loan as you please. The unrestricted short-term financial relief helps UK borrowers address widespread finance concerns, including these common personal spending demands.

  • Unexpected Bills – Managing money is difficult enough, yet unexpected bills can make it even more challenging to make ends meet. A short-term payday loan may be all that’s needed to address unforeseen financial pressure; a 12 month loan provides quick cash, with an extended repayment period. When your budget is stretched thin due to immediate spending demands, a small loan can help keep your bill payments current. A 12 month loan keeps the pressure off, as you make affordable repayment over several months.
  • House and Car Repairs – It’s hard to predict when your car or house may require financial attention. A well-funded emergency account can help you address the unanticipated cost of repairs, but without savings in reserve, you may need outside help. 12 month loans and other online lending resources furnish flexible financial solutions for car repairs and household updates.
  • Education Expense – Small short-term loans help students and their parents manage education expense. From housing payments to tuition and other school-related spending, flexible funding alternatives such as 12 month loans provide flexible resources for school families struggling with the cost of advanced education.
  • Cost of Living Increases – Personal earnings don’t always keep pace with cost of living increases. When your wages lag behind your expenses, online lending opportunities provide rapid relief, without waiting for an extensive credit check. A 12 month loan may be enough to combat climbing costs at the market, variable mortgage payments, and other expenses on the up.
  • Health Care Costs – Medical spending and health-care costs can disrupt your financial flow – for a number of reasons. Missed work, travel for care, and other spending related to illness and injury quickly add up, often when you can least afford to pay. Unrestricted online loans deliver short-term financial relief, providing access to cash for health care expenses when you, a friend, or a family member gets sick.

How to Get a 12 month Loan Today

Completing an online application is your first step toward loan approval. The seamless process takes only minutes, initiating access to Omacl’s wide network of lending partners. Once you’re approved and matched with a suitable lender, funding is fast-tracked for rapid delivery.

12 month loan today

In order to receive one of these loans, you must apply with an active current account, used for deposits and payments, as well as:

  • being at least 18 years old when you apply,
  • residing in the UK,
  • demonstrating adequate means for repayment.

Online loans provide streamlined access to cash, compared to conventional lending resources such as banks, credit unions, and building societies. Unlike brick-and-mortar lending institutions, 12 month loan providers accommodate the need for speed, offering rapid pre-approval for small online loans.

In addition to fast funding and at-home convenience, online lenders also offer flexible repayment terms, including 12 month loan options for conditions requiring a little extra time to pay. Custom loan amounts allow you to borrow only what you need, avoiding excess interest payments. And your repayment schedule is established up-front, enabling you to plan for timely payments.

Unexpected expenses and spending demands above and beyond your budget can interfere with healthy household finances. When spending spikes or unanticipated bills leave you short of money, various online lending resources can help you make up the difference. Among your borrowing options, 12 month loans deliver quick cash with affordable repayment terms.

Omacl on the FCA Register

Omacl is a registered trading name of Chojin Ltd and is authorised and regulated by the Financial Conduct Authority (FCA). You can view our registration status via reference number 732880.

Free Financial Advice

If you are struggling with debt or are unable to make your loan repayments, please visit the websites below. All of them offer free, impartial advice.

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