How to apply for a 12-month loan
Before you apply, check that you are eligible for the loan. Using a broker or comparison site will help you find loans you are most likely to be eligible for and help you to find the lowest rate. Make sure you can afford the repayments and look at the total cost of the loan, including interest and any fees.
If you decide to go ahead with an application, you’ll be asked the amount you would like to borrow and for how long, along with what you’re using the loan for. You will also need to include personal and financial information, such as your address and income. The application can be very quick and the decision from the lender may even be instant. So take your time to think about the application and its terms before you apply.
The lender will run a credit check and affordability assessment, and if it accepts the application, it will send you a loan offer, which you can review and then choose to reject or accept.
Take your time to check the agreement carefully before going ahead.
» MORE: How to apply for a personal loan