Representative example: Amount of credit £3,000 for 2 years. Interest rate: 24.9% pa (fixed).
24 scheduled monthly payments of £159.96. Total amount payable: £4,339.14.
Representative 29.9% APR.

Why Do You Need Installment Loans?

Getting a short-term loan is easy but getting an affordable deal is quite complicated. Over the decade, the reliance on small loans has increased due to one or another reason. Things become complex when your credit score is poor and you need money quickly at lower interest rates. Of course, the best deals are exclusively available for good credit borrowers. Why a lender will avail the best deal if you show high default risk?

Having a bad credit score can keep you from getting a loan at competitive interest rates, but Loan Lender has an effective solution – installment loans in the UK.

These are for small and long term that you can take out to finance any unexpected expenditure or for a planned purpose. Whether you need funds to have your car repaired or you need it for your tuition fees, getting these loans are extremely convenient. These loans work differently compared to other small loans like payday loans, text loans, doorstep loans, and self-employed loans. They usually come for a short period, not more than a month. As you receive funds in your account, you are obliged to reimburse the loan on your next payday in lump sum. However, installment loans require you to repay the debt over an extended period from three months to a year depending on your credit need and repayment capacity.

Installment Loans

Features of our instalment loans:

  • You can take out up to £5000
  • Our interest rates are competitive
  • We charge no upfront fees
  • Same-day money disbursal
  • Bad credit borrowers can also apply for them
  • No hidden surprises
  • Neither guarantor nor collateral
  • Simple online application procedure

These loans are a better option if your credit score is less-than-perfect and you want to build your credit. Other small loans like payday loans do not help you build your credit rating because you repay the debt in lump sum just after a two-week period. This does not provide a clear idea to a lender about your creditworthiness. They allow you to pay off in equal monthly installments. Making all repayments on time will help to improve your credit rating and allow you to take out other loans at a lower interest rate down the road. Secondly, you should take out these loans when you know that you will not be able to reimburse the debt in lump sum.

Why Direct Lender for Installment Loans?

Contrary to traditional lenders, online direct lenders follow simple and straightforward procedure from application to disbursal. Further, conventional methods of borrowing cannot let you apply for the loan if your credit score is not perfect. One of the biggest advantages is loans are available for bad credit.

Direct lenders allow you to borrow despite your past credit mistakes. They understand that you often fall behind repayments because emergencies come in your way. Life always does not go your way. Of course, you will not be able to pay off your debt if you are admitted to hospital. Loan Lender considers these situations and hence allows for installment loans with bad credit. The policy of direct lenders is transparent. Since starting, you know how much the loan will set you back. You will be able to pay back the amount in much more manageable way.

How Easy to Avail Installment Loans with Bad Credit?

The direct lender provides these loans to all types of borrowers. You can apply even if your credit history is bad. Installment loans for poor credit borrowers come with a bit higher yet affordable interest rates than those with good credit. We allow you to apply for them despite adverse credit history so that you can build credit rating. Please note that you will not be able to take out these loans if your credit report shows unsettled CCJ.

Available Loans on Installments

Installment loan is not a type of a product rather a loan repaid in installments come into this category. Here is a list of some of those loans:

  • Cash loans: lenders do offer cash loans to meet the emergency expenses, which the borrowers can repay in fixed repayments.
  • Unsecured loans: Providing the collateral is not in everyone’s capacity. Thus, unsecured loans are offered to make easier for the borrowers to secure the funds easily.
  • Secured loans: Unlike unsecured loans, these loans do require collateral and bring the benefits like large amount to borrow that you can pay in easy monthly installments.
  • Guarantor loans: These are also perfect for the large funding but need a guarantor to repay if in case primary borrower is unable to do so.
  • Personal loans: These loans too can be repaid in fixed amount up to a certain period and can be applied for any financial purpose.

Fund your unexpected expenses with installment loans. Manageable repayments will not let you fall into debt. Apply now!