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Long Term Loans for Bad Credit

Representative 277.5% APR

Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances

Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.

The Great Things About KnightFinance

Super Fast Process

You could get money directly into your account after just a 15 minutes application.

Affordable Finance

Get the cash you need without the usual high costs, because of our wide range of lenders.

Low Interest Rates

Compare lenders to make sure that you get the lowest possible rates.

Unsecured loans

There’s no need to put any collateral against your credit, all our loans are unsecured.

Long Term Loans are available from 3 months to 24 months, or longer, depending on your requirements. Knight Finance allows you to borrow up to £5,000 over a long term, giving you the breathing space and flexibility to pay off any immediate expenses and get your finances in order.

We are able to offer long term loans for bad credit histories, so if you have the occasional missed payment, default or are looking for a CCJ loan, we are willing to take a view and help you get the loan you need.

Our entire loan application is completed online and you can choose exactly how much you would like to borrow and how long for. When applying with Knight Finance, you are in control to choose the terms of your loan and you have the option to repay early if you would like to. You can get an instant decision when you apply and if approved, funds can be transferred to your account within 1 hour or on the same day.

As a full time student working two jobs to get the bills paid and still being skint all the time, having a short term loan between pay days can be useful. Used Knight Finance after a recommendation from a friend and I’m glad I did. Borrowed just under £200 and paid £212 back, no where near the interest I would have paid elsewhere. Will definitely recommend if you’re strapped for cash and know you can pay it back.

Photo taken by Jonathan Chen

Alexia Newton

Support Worker

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What are the Benefits of Long Term Loans?

More breathing space: By moving away from traditional payday loans that only last around 14 to 30 days, long term loans can be repaid over several months or years, giving you much needed flexibility and breathing space. There is no need to be worrying about how you are going to pay off all your bills and your outstanding loan at the end of the month. Instead, you can repay over 3,6 or 12 months, allowing you to relax and achieve better control over your financial position.

Can budget more effectively: A lot of Britons live pay cheque to pay cheque, but taking a longer view can help get your finances in order and budget more effectively. Whether it is your rent, utility bills, phone bills, groceries and holidays, you can plan 6 months or 24 months in advance with a long term loan, helping you get on top of your finances. Many people use our products as debt consolidation loans, helping you pay off all your outstanding debts in one-go, but over a longer period of time.

Can repay early: A key benefit of long term loans if you find that you are in a financial position to repay early, you can do so at any time. All you need to do is contact your lender or log into the ‘my account’ section of their website and pay off any outstanding fees.

By paying back your loan early, you have control of your finances and you will also save money since you are paying less interest overall e.g your loan will be cheaper if you have borrowed over 6 months, compared to 12 months, because less interest has accrued.

How Long Can I Borrow for?

With Knight Finance, you can apply for a minimum of 3 months to 24 months, or longer if you would prefer. We have partners who can provide long term loans for up to 36 or 60 months. You have the flexibility to choose the loan duration to best suit your needs.

How Do Repayments Work for Long Term Loans?

Our loans are typically repaid in equal monthly instalments, so you will be paying the same amount each month, at the same time, allowing you to budget and prepare for each payment effectively. The pay date is a scheduled date that you select beforehand with the lender. However, you can change this at any point if you would like to, provided that you are making a payment each month.

Most borrowers select their pay date from work, which is usually the last working day or last Friday of the month to their repayments to be collected. Some people prefer to choose the day just after, giving them some time for money to enter their account. Or some people get paid on a four weekly basis or a specific date e.g the 25th of each month. 

Can I Apply for Long Term Loans with Bad Credit?

Yes, long term loans for bad credit are available through Knight Finance. Even if you have a history of bad credit or defaults, most of the lenders we work with require you to have a regular income and employment to be eligible, meaning that you can afford to make your loan repayments each month.

Provided that you can demonstrate a willingness to pay off your loan on time and are not going in a downward spiral of debt, our lenders may be able to assist you.

Alternatively, we may recommend you to one of our partners who specialise in bad credit loans, and if you have very poor credit, this could require you to add a guarantor to your application or using extra security such as your car, van or property. 

How is Knight Finance Different?

At Knight Finance, we are passionate about finding the right product for the customer and helping them get the loan they need on the best terms. We have spent years partnering with some of the most reputable lenders in the UK, who are actively looking to fund loans and offer credit to customers.

When you apply through our website, we will run a series of instant checks and match your application with the lender most likely to approve you and offer the borrowing terms that you have requested. This helps you get the loan you need in the fastest and most effective way possible – all in one place, without having to go through each lender individually.

We are a credit broker who is regulated and authorised by the Financial Conduct Authority. Simple enter your details into our application form, get an instant decision and if successful, you can receive a long term loan into your bank account within 1 hour or the same day of applying.

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All reviews have been sourced from the UK Trust Pilot to certify authenticity.

Representative 277.5% APR

Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances

Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.