Long-Term Loans for your Bigger Financial Problems

Everyone sets some milestone in life that serves as personal achievements for them. You can have many items on the list, from buying a house to start a new business. The larger amount requires long-term loans to make the installments reasonable and manageable.

At EasypolicyLoans, you have every reason to apply for our deal because of the following reasons:-

  • Short-Term Loans are Not Best Solution for Every Situation

    The short-term loans in the UK are suitable for small expenses, but not for larger financial costs. On the other hand, the long-term loans have the tenure over 5 years to ease the stress of instalments on your budget. We bring further comfort where you can borrow a large amount even without a guarantor or collateral.

  • Simple and Transparent Application Process

    To apply for a loan, you need to fill the application form and submit the documents online. There are no brokers or middlemen that involve increasing the overall cost of the loan. The whole process is transparent and convenient for both the borrower and the lender.

  • Affordability is More Important Than Credit History

    Once the application form is submitted, our representative will check your credentials for eligibility. There is no hard inquiry on the credit history to damage it with the trails further. We emphasize affordability, considering the present financial status that includes monthly income and current liabilities.

What are the Benefits of Long-Term Personal Loans?

Long-term personal loan from direct lenders benefits the borrower with a larger amount and easy installation. Here are the detailed benefits of a longer tenure on your financial condition –

  • Lower Interest Rates

    We offer nominal interest rates on long-term loans to ensure no unnecessary stress on the borrowers. The installments are easier to manage because of the interest rates and longer repayment periods. There is no need to dwell on the budget every month over the rising interest rates.

  • Builds Credit

    Good credit helps in numerous ways that include increased profile credibility and cheaper loan. A long-term loan might help you recover the damage on the credit history because of earlier financial emergencies. Pay the installments on time, and the credit ratings will get normal with time.

long term personal loans benefits

When to Apply for Long-Term Loans?

A short-term loan may cost less and provide early relief. However, there are certain situations when a longer-term isa viable solution. We recommend long-term loan for bad credit in the following situations -

Apply Long term Loans Online
  • Medical Emergency

    You may need a large amount of cash in a short time to pay for medical services. There is no cap on the medical bills that may incur during the treatment. During these uncertain times, the heavy installments cause maximum damage to your finances.

  • Buy House or Car

    You cannot rely on the mortgage provider to approve the request on time. It may take weeks and months for fund disbursement, and the house may get sold to someone else. You cannot wait for approval if you urgently need a vehicle for personal or business use.

How Long-Term Loans Different from Short-Term Loans?

Loan tenure defines the whole repayment for the loan amount. It gets affordable when you chose a longer term of repayment. However, the overall cost of the loan also increases with the duration.

The interest rates and overall cost will not help if you cannot afford the monthly installments. There are other financial goals as well that require savings from the limited income. A lower installment will help save for these essential life goals that include retirement funds and kids' college fees.

Short-Term Loans Long-Term loans
A few months or a Year Term Up to 5 years term
Floating Interest Rates Fixed Interest Rates
For Working Capital or Short-Term Requirement Long-Term Investment or Major Financial Troubles
Heavy Instalments Manageable Instalments
Low Overall Cost High Overall Cost

How to Get a Long-Term Loan with Poor Credit?

Banks and financial institutions will ask for collateral or a guarantor if you want long-term loans with poor credit ratings. They conduct a hard inquiry on your credit ratings that leaves a trail to damage it further. On the other hand, we offer loans based on the current financial status with a soft check on the credit history.

Our representative will assess the affordability of the present income and liabilities. We don’t want our customers to bury under a pile of debts with another loan. Moreover, if the credit is too low, we have no other option than to reject the application.

Can I Get a Bad Credit Long-Term Loan with no Job?

As mentioned above, you need to have a regular income to qualify for long-term loans with no guarantor. We don’t want our customers to fall into a debt trap or take a liability they cannot afford. Also, it is the main reason we don’t ask for collateral and a guarantor.

Following are some example of regular income that makes you eligible for the loan -

  • Regular Job at a firm
  • Parttime job
  • Own business or startup
  • Freelancing or side hustle
  • Income from rental or other investments
bad credit long term loans

Reasons to Choose EasypolicyLoans

At EasypolicyLoans, we support our customers as an alternative to the banks with practical solutions. There are no rigid corporate policies designed to keep the customers stay in distress throughout the repayment. These are some reasons for our long list of happy and thankful customers for the long-term loans in the UK

Apart from them, the simple and transparent online application process ensures the whole process is safe and secure. Visit the application page to apply for a loan and get approval within the next few hours.

Long Term Loans FAQs

How the approach of long term loans work?

Our primary aim is to bring relevant and reliable funding source for an extended period. These long term loans run on a simple philosophy, i.e.

  • Your repayment capacity
  • Your right financial goals

Discuss your goal with us.We prepare the apt deal for you.

How much is the prospect of long term loan with bad credit?

Of course, the answer is yes. We have exclusive loan offers for these people without making anything mandatory. The approval is primarily based upon your income capacity and further the repayment ability. If you have a guarantor with a good credit profile, then it will also work in your favour.

How to Apply for Long Term Loans with No Credit Check?

Applying for the long term loans is as most straightforward as the short term loans. The procedure is online that includes steps like:

  • Apply online on our website
  • Fill the application form
  • Submit it and wait for the approval

We only need to prove your income status or if the collateral is there.

Is there any chance of getting long term loan with no guarantor?

Yes, you have the chance of getting long term funding without the backing up of a guarantor. You can ensure the repayment with either of these sources:

  • Your monthly income
  • Your business growth
  • Having a good credit score
  • Collateral of equal value is there

Are Long Term Loans the Salary-Backed Loans?

It largely depends upon the lenders, but most of the times, long term loans are asset-based loans, and not solely salary backed loans. But yes, you can say that small loans are those with salary backed, as there is no collateral needed for a small amount. For larger funding, you need to pledge any asset.

Will I Get Fixed Term or Flexible Term on Long-Term Loans?

EasyPolicyLoans offer both fixed-term and flexible terms for long-term loans. Those who have settled income can opt for the fixed term, while those who have unsettled earnings can choose flexible terms to make borrowing convenient.

What are the 5 most applied long term loans in the UK?

Like short-term loans, long-term loans are also preferred by most of the borrowers in the UK. As per the trends of thelast couple of years, these loans are mostly applied for longer duration:-

  • Car Loans
  • Home Loans
  • Home Renovation Loans
  • Business Loans
  • Secured Loans
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