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Long term loans are loans that can be repaid over a longer repayment period of over 5 years, the general limit for any personal loans. Such loans can make borrowing an amount of money more manageable, since spreading the cost of the long-term loan can make monthly payment less than the short-term loans. Long-term loans refer to the secured loans that use your property or car as collateral against the loan. 

Now, if you are looking for an affordable long term loan in the UK, look no father than Payday Loans Now. We are UK’s most trusted long term loans provider.

Applying for A Long-Term Loan Without Credit Check

Unsecured long-term loans generally come with a credit check as the best-unsecured loans depend on your credit score and your income. For those looking for a long-term loan without a credit check can go for a loan with a guarantor and logbook loan, as some lenders don’t use credit score checking. In such cases, the eligibility of the lender depends on the guarantor’s credit rating or collateral’s value.

Benefits of Long-Term Loans

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Affordable Monthly Repayments

When you choose to spread the loan over a long time period, it will lower your monthly repayment. This can be beneficial for those looking to spread the borrowing amount over many years.


Competitive Interest Rate

How much you will have to pay to the bank for lending money to you is the interest rate. With long-term secured loans, there is a lesser risk to the lender, so the interest rates are competitive.


More Chances of Approval

There are better chances of getting secured loans approved in comparison to the unsecured loans since there is lesser risk involved to the lender.

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More Flexible

With long-term secured loans, you get an option to repay your loan quickly to save on the interest amount. Moreover, the small repayment amount of long-term loans lets you have spare cash for some other important purposes.

It is important to know why you may have to opt for a long term loan.

Everybody applying for a loan will not have similar needs for sure. However, we at PDLN, feel such needs are justified. There are some loan applicants who look only for loans with short repayment tenure.

However, there are others who need long term loans. The good thing is we have tie up with lenders that offer loans with longer repayment duration.

This kind of loan is nothing short of a significant commitment. A lot of applicants are actually rejected by the lending entities for such loans. That is where we step in. We help you get long term loans after you have been rejected by others.

What the long term loans are used for?

A long term loan may offer you the cash boost when you need it the most. There are thousands of people who struggle to save from their income and they need such loans.


As it is, the long term loans are useful for life events and making costly purchases. You may for example, take such a loan to renovate your property or expand it. Then, you can pay it back for a long duration. This can be useful when you want to buy a vehicle as well. Some people may also choose such loans for foreign trips.

The long term loans may also be useful when you face cash crunch, unexpectedly. You may need a lump sum amount if you need medical treatment not covered by your insurance policy. We are here to help you connect with a suitable lender.


Can I get a Long-term pay loan?

No, long-term payday loans are not available. If you are looking for a payday loan, then you can get a short-term loan with limited loan conditions, for a week to 6 months. The more time you take to repay a short-term loan, the costlier it will be.

Can I Borrow More Money With Long-Term Loans?

You can generally borrow more amount of money for a longer time period with long-term loans. This is because long-term loans offer you more time to repay the loan amount.

Your chances of getting the highest amount increases if you have a high income, regular income source, lowest outstanding debt amount, and good credit score.

However, it is important to consider that the longer your loan is for, the more you will have to pay for interest.

Can I Get A Long-Term Loan For Bad Credit?

You can get a long-term loan even if you’ve a poor credit history. A long-term loan for bad credit history can be an excellent way to consolidate the current debts. You may find that this decreased your repayment and it will make it simpler for you to handle rather than paying many lenders. To get a bad credit long-term loan, you need to have regular income and should be able to make the repayments every month. Offering collateral or having a good guarantor can maximize your borrowing amount and possibilities of approval.

FAQs on Long-Term Loans

Ans: To settle a long-term loan, the repayment amount depends on the sum of money that you borrow and for how much time.

Ans: Once you complete your online loan application form and submit it, we evaluate it and then decide whether you are eligible for the loan or not. If your loan application is approved, you’ll generally get the required cash on the same day or maybe within minutes of the approval.

If you miss a single repayment, it can result in a heavy penalty on the total amount that you owe to the lender still. This can add up together and lead to serious financial issues over time. So, you should ensure to make every repayment on time or before it is due.

Ans: Certainly, you can. Most of the lenders these days are ready to help you with long-term loans even without needing a guarantor even if you’re getting benefit payments only as income. However, the benefit payments should be consistent inflow. Moreover, the benefit income needs to be of an appropriate amount to cover the loan amount you borrow. You need to keep this in mind before you apply for a loan with benefit income.

Ans: Once you complete your online loan application form and submit it, we evaluate it and then decide whether you are eligible for the loan or not. If your loan application is approved, you’ll generally get the required cash on the same day or maybe within minutes of the approval.

At Payday Loans Now, we work only with the direct lenders. As a result, your information will be always sent to a direct lender only who is willing to offer you a loan. Responsible handling is what we are best at and we ensure that all your details will be kept safe and secure. We never pass our client’s information to multiple third parties.

We will match your loan requirement with the lender who accepts your loan. Once you approve to proceed, we will share your contact, repayment, funding and other important information with the lender itself without any involvement of the middleman.

All this does not include any broker, administrative, or upfront fees when you work with Payday Loans Now. We ensure to make the whole process simple for you. Hence, our application form is completely online and it can be completed when and where you want. All our loans are instant decision loans and clients can rest assured to get them generally on the same day.