Are you in a hunt for that 12 month loan that will solve your financial problems? Your wallet is getting thinner and thinner and you are finding it exceedingly harder to pay even the most urgent of bills, not to mention all those piled up debts from credit cards and other loans. If this is you, we have the perfect solution for you right here.
Of course, we're not telling you to jump into something that you nothing about here. Applying for a loan, even when the amount you want to borrow is “paltry” £100 is an important decision and one not to be taken lightly. Not before you've become well informed on all the ups and downs of that type of loan. 12 Month loans are a relatively new unsecured loan option. However, we can draw some similarities between them and another, much better known type of loan. Payday loans. As you probably know (just reminding you here), payday loans are short-term, unsecured loans thanks to which you can borrow from £100 to £1500 and are used mostly to pay off some urgent debt or bill. Now, payday loans would be an okay option, if it wasn't for their short-term. With them, you only have until your next paycheck to repay the loan. As such, there's not much room for manoeuvring and you need to be sure that you will have the money next month. Otherwise, be prepared for a nasty surprise as payday loans can only get bigger and bigger as time passes and you haven’t paid them.
12 month loans are therefore similar to payday loans, but with one big difference. You have 12 months to repay them (hence the name). That gives you A LOT more breathing space.
Applying for a 12 month loan is mostly an easy process. Again, it starts with an online application form you can find on the lender's website. It's important that you fill it with accurate information. Next send this back to the lender. Now, you will have to wait awhile for the lender to check your info from top to bottom and then let you know how your application went and whether you are approved for it or not. Don't worry, you won't have to wait too long. We'll get back to you in a few hours with some 12 month loan deals that we think may suit your repayment strength and financial needs. Following this, if the agreement is made, you'll get the cash in your bank account within the next few working hours.
Naturally, you want to know whether you are eligible for a loan of this kind. Here are the requirements. Read them carefully before you send your application, because if there is anything missing from it, you'll get rejected for it by a 12 month lender. And we don't want that here at SWBA Loans.
You are at least 18 YEARS OF AGE. You can't be younger than this or the loan company will reject your application.
You have a REGULAR JOB and earn at least £1000 each month. With some 12 month lenders, like First4Loan, this sum can be smaller or greater, so be sure to check this with lender.
You have a VALID BANK ACCOUNT. This is where the money will be wired to.
You are a CITIZEN OF UK and can prove it