12 Month Loans

12 month loans are safe option when taken out with an FCA-regulated lender in the UK like us. As authorised lenders, we follow strict rules around affordability checks, clear pricing, and fair treatment of customers. This helps ensure you understand the costs, repayments, and risks before proceeding with 12 month loans. You should always check that a lender is listed on the FCA register before applying if you are unsure. As with every type of loan, you need to ensure this is affordable for you before proceeding so that you can avoid getting into difficulties with repayments.

You may still be able to get a 12 month loan with bad credit here at Fast Loan, although approval is never guaranteed. Rather than focusing only on your credit score, we look closely at your affordability, including your income, regular outgoings, and ability to manage repayments. This means past issues, such as missed payments or defaults, do not automatically rule you out of being approved. Having a steady income and an active UK bank account can improve your chances. It’s important to review the total cost of the loan before you proceed and ensure this is the right fit for you. We will decline if we cannot determine that this is a sustainable option.

Yes, here at Fast Loan UK, you can choose to repay the full balance of your loan early if this works for you. Doing so can save you money overall, as we’ll only charge interest for the days you have borrowed, plus a £20 early settlement fee. This is subject to this not taking you over the 0.8% daily interest charge. If you want to repay your loan in full early, go to your account or get in contact with us for an early settlement figure.

The amount you can borrow with a 12 month loan depends on several factors, including your income, existing financial commitments, and affordability assessment. Across the UK, lenders typically offer amounts ranging from £100 up to £5,000+. At Fast Loan, the maximum available on a 12 month repayment term is £2,000, and is available for returning customers only. New customers can borrow up to £800 for 8 months.

If for any reason you feel you will struggle to make an upcoming repayment, please contact us as soon as possible. We understand that circumstances can change unexpectedly, so it is best to speak with us before your payment is due to discuss this, and we’ll work with you to resolve the issue. We do not charge for late payment, but these can still affect your credit rating, so it’s important to contact us. If you are in financial difficulties, speaking to organisations such as Money Helper can also provide further advice and information to help.