Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

12 Month Loans

Apply for up to £5,000 over a period of 1 to 60 months.

Representative Example: If you borrow £500 over 6 months at a rate of 25.5% per annum (variable) with a representative 46.19% APR you will make 6 monthly payments of £92.96, repaying £557.76 in total.

Warning: Late repayment can cause you serious money problems. For help, go to www.moneyhelper.org.uk/en.

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Understanding 12 Month Loans

What is a 12-month loan?

A 12-month loan is a short-term loan, which is borrowed and repaid within a fixed period of 12 months. Applicants will repay the money borrowed in fixed monthly instalments in addition to any interest or fees issued by the lender.

How much can I borrow with a 12-month loan?

Typically, with 12-month loans, because of the loan term, you can apply to borrow more than a payday loan. At Flexy Finance you can apply to borrow £100 to £5,000 over a period of 12 months.

What can I use a 12-month loan for?

12-month loans can cover the costs of expenses such as unexpected bills, home improvements and repairs, appliance replacements or of the consolidation of smaller debts. Ultimately, the loan can be used for anything you want as there is no limit to what they can be used on.

Can I borrow for less time?

If you want to repay your loan amount in less than 12 months, it’s no problem. At Flexy Finance we offer loan applications for flexible repayment periods, anywhere from 1 to 60 months. So whether you wish to borrow until your next payday or 6 months, we can accommodate you.

How much is the interest rate on a loan?

The current representative APR on the loans that we broker is 46.19%.

Applying for a 12-month loan
How can I apply for a 12-month loan?

You can apply for a 12-month loans online by completing an application form. The online application form can be completed on your phone or on your computer, so you can complete it at a time and place that suits you.

Below we created a general guide for applying for 12-month loans with Flexy Finance.

How to apply for a 12-month loans

Step 1 – Completing the application form

The first step to getting a 12-month loan is completing the application form. The details provided in the application are used by us and potential lenders to assess whether you qualify for a loan.

The information that needs to be completed includes:

  • Loan amount and repayment: Prove how much money you want to borrow and select a repayment of 12-months (if you want a 12-month loan).
  • Personal & address details: Personal information, email address and phone number. In addition to, your home address and for how long you have lived at that address.
  • Employment and income details: We use these details to help assess the affordability of the loan you would like to take out. This includes details of where you work and for how long have you been employed in addition to your monthly take home pay.
  • Monthly expenses: We need to understand your monthly expenses to better assess the affordability of your loan. We do this to ensure responsible lending.

Never borrow more than you can afford or take out a loan to pay off another loan. Make sure to borrow an amount that you think you can comfortably repay. If you are struggling with debt please contact the Citizens Advice Service.

Step 2 – Having your loan accepted.

If your application for a 12-month loan is accepted, then we will compare lenders to narrow down which one is best suited for your application. Once the lender has reviewed your application, they will offer you a 12-month loan.

It is incredibly important to read and review the terms and conditions of the loan before you make a decision. If you find an element of the terms and conditions confusing, then make sure to ask the lender for more information. Key details to look out for are:

  • Loan amount
  • Repayment terms
  • Interest and APR
  • Additional fees and charges

If you accept the loan you are legally responsible for upholding the terms and conditions of the contract. Once you have accepted and the loan has been finalised, it will be transferred into your bank account.

*Some lenders may require you to provide additional documentation when offering you a loan.
**The loan offered by the lender is subject to change and may differ from your initial application.

Step 3 – Making the monthly repayments

Once you have had the loan transferred into your account, you will then be obliged to start making the monthly repayments. The length of the monthly repayments are pre-agreed with the direct lender, so make sure you fully understand what the monthly repayments require i.e. deadlines.

Can I still get a 12-month loan if I have bad credit?

Yes, it is possible to get a 12-month loans if you have bad credit. The lenders we work with are able to offer borrowers credit, even if they do have bad credit. However, it is likely that the loan may come with higher interest rates and the quality of the loan may be poorer.

At Flexy Finance, we may be able to help applicants find 12-month bad credit loans.

How to get a 12-month loans with bad credit

If you have struggled receiving a loan because of your credit score, you could speak to the lender about 12 month guarantor loans, or secured loans. These loan types are considered safer for the lender, who may be more inclined to offer you a loan if it is secured to collateral or backed by a guarantor.

A 12-month guarantor loans is where a person agrees to cover the loan if the borrower fails to make a repayment. The person is usually someone you trust, and must pay the loan. Lenders see this kind of loan as a safety net, as they’re likely to receive payment.

A secured loan is where the loan is attached to a valuable item. So if the borrower fails to repay the loan, the valuable item is then taken as payment. The valuable item could be a car or valuable property. Secured loans may be suggested when larger amounts are borrowed.

Will borrowing money affect my credit score?

Providing that you keep up with your monthly loan repayments, ensuring that you repay your loan in full and on time. As applying to borrow money should not affect your credit score.

However, if you fail to repay your loan instalments, this could result in charges and defaults being added to your credit report, thus negatively affecting your credit score in the process.

Weighing up a 12 month loan
What are the benefits and drawbacks of a 12-month loan?

If you’re considering applying for a 12-month loan, then it is a good idea to weigh-up the benefits and drawbacks before you apply. Below we have provided some of the benefits and drawbacks that are associated with 12-month loans.

There are many benefits to borrowing over a duration of a year; these include;

What are the benefits of a 12-month loan?

1. Larger loan amounts: as the repayment period is longer than some short-term loans; you may be able to borrow larger amounts.

2. Paying less interest: as the repayment periods are longer, some lenders may offer you lower interest rates (pa fixed) – always check rates before you accept your offer.

3. Spreading the cost of your repayments: longer repayment periods can help to make paying your instalments more affordable.

What are the drawbacks of 12-month loans?

12-month loans may not be suitable in many circumstances. Therefore you will have to consider the drawbacks of this type of credit.

1. Interest rates: interest rates may still be high – especially for those who have bad credit. Always check your interest rates as stated in your loan terms.

2. Early repayment charges: some lenders may issue early repayment fees if you wish to repay your loan early, in addition to the total amount payable. Check for additional charges in the terms and conditions of your loan.

3. Affordability: only borrow what you can afford, you can use a loan calculator to work out the payments you can afford.

** If you are already in debt and need help with your money problems, you can visit the Money Advice Service for more information on how to cope with debt. **

I’m struggling with debt – what should I do?

If you’re struggling with debt, then you should not take a loan out to cover any long-standing debt. This can cause further financial problems and it is always advised to never borrow more than you can actually afford.

If you are struggling from debt there are organisations that can provide advice to you for free. This websites include:

Why choose Flexy Finance?

Why choose us? Flexy Finance
How do I apply for a 12 month loan? Via our online application form
How much can I borrow? We offer loan applications of £100 – £5,000
For how long? For periods of 1 to 60 months
How long will it take to receive my money? From 24 hours*
Are there any hidden fees? No, we charge no fees for the service we provide
Representative APR 46.19%

What does ‘representative APR’ mean?

APR stands for ‘annual percentage rate’. It refers to the total cost of borrowing money over a year, including the interest and standard fees you have to pay. ‘Representative’ means that 51% of applicants will receive the same interest rate advertised or a lower amount.

For example, the representative rate Flexy Finance offers is 46.19%. Therefore 51% of customers will receive that rate of interest or lower. It is not a guarantee that customers will receive the same representative APR in their loan agreement.

Not everyone within the 51% will receive the same rate as the APR that is advertised. You will likely receive a personal rate which may be different from other applicants.

A personal rate may be higher, lower, or the same as the representative APR. It is usually determined by your credit score, how much you want to borrow, and your finances.

APR is often used as a comparison tool to help people compare different loan providers.


What is a 12-month loan?

12-month loans are a type of short term loan which is borrowed and repaid in 12 monthly repayments over a repayment period of a year. Applicants will repay their loan in fixed instalments in addition to any interest or charges stated by the lender.

Can I repay my loan early?

Some lenders may allow you to repay your loan early without an Early Repayment Charge (ERC). However, you will need to check the terms and condition of your loan, as stated by your loan provider.

Am I eligible?

In order to qualify for a 12-month loan with us, you will need to ensure that you meet the following requirements;

  • Aged 18 years of age or older
  • Have been a UK resident for at least the past 3 years
  • Have a regular income of at least £750 per month
  • Valid UK bank account and debit card

How to Find 12 Month Loans in Three Steps

Time Needed : 5 minutes
Check these steps to find out how easy it is to apply for a loan at Flexy Finance!
  • 1. Submit An Online Application Form​ for 12 Month Loans

    Applying through Flexy Finance is always quick and easy. Simply complete our 1-2 page application form. You can apply on the go, or from the comfort of your own home. Better still, there are no calls or paperwork involved!

  • 2. We search a large panel of UK lenders

    We search a large panel of UK lenders in real time, so that we can deliver you an instant decision. Within seconds of applying you'll know if a lender has accepted you or not. Unlike banks, our lenders are able to issue loans to people from all different walks of life and accomodate a range of different credit scores. There's an option for everyone!

  • 3. Access The Cash

    The majority of lenders are able to deposit the cash direct to your account, within just 24 hours! We'll never charge you any fees and there is no paperwork to complete. There you have it, apply for up to £5,000 in the quickest and simplest way possible today

  • 1. Mobile, Laptop or Tablet.

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