Long Term Loans
When taking out a long term loan, you have to remember that this is a serious financial commitment that could run for a long period of time and in some cases, up to 25 years. So when choosing your loan over a longer time, you need to be sure that it is the most suitable and affordable one for you. most suitable and affordable one for you.
A long term loan is a great way to space out the monthly repayments, giving you more time and that extra flexibility to repay the loan. We consider long term loans to be those that run from 5 years onwards. When taking out a loan below a repayment period of 5 years, the interest rates can be considerably higher. So a loan over a longer term is a good way of keeping interest rates as low as possible. You have to remember that any rates offered will be dependent upon your own individual circumstances; this includes your income etc. If you are worried that you wont be able to obtain a long term loan due to your credit history, we can help find you a loan over a long term even if you do have bad credit. We have helped hundreds of clients find the right long term loan for them, regardless of their credit profile.
There are many reasons as to why you may be thinking of taking out a loan term loan, such as:
- Home Improvements. (Kitchen, Bathroom, Conservatory, Extension, Loft Conversion etc)
- New motor vehicle or motor vehicle repairs.
- Consolidation of debts. (Paying off any/all of your outstanding debts)
- Dream family holiday.
- Business Loan. (Start of a new company or perhaps to expand your current business)
Frequently Asked Questions
I want a loan for 25,000 for home improvements over 22 years, can you help?
Yes we can help with this; however the quotation that we will provide will be based upon your individual circumstances.
How long will it take for me to receive the funds for my long term loan over 20 years?
Here at The Money Hub we process applications from start to finish on average within 2-3 weeks.
What sort of rates do your long term loans start from?
We work alongside a huge panel of lenders that can offer rates starting from as low as 2.11% dependent upon your circumstances.
Do any of your lenders lend past the age of retirement?
Yes, we work with many lenders that will lend past retirement age.
Free Long Term Loan Quotes
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How we work
Just some of the UK Lenders we compare
UNSECURED LOAN REPRESENTATIVE EXAMPLE - 49.9% APRC (variable) Secured loans from 3.83% APRC.
SECURED LOAN REPRESENTATIVE EXAMPLE - Assumed borrowing of £30,000 over 240 months, with a 36 month fixed rate followed by a variable rate plus a brokers fee of £1,495 and a lender fee of £495 would result in a monthly repayment of £256.04, the APRC 8.2% for 36 months then a monthly repayment of £247.45 on variable rate, the total amount payable would be £59,817.24. The actual rate available will depend on your circumstances, please ask for a personalised illustration.
By taking out a secured loan you are borrowing money that is secured against your home. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay. Rates as of 16/01/2017.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP, GO TO MONEYADVICESERVICE.CO.UK.