Financial emergency cropped up? If you don't have the savings to cover the expense, you might have thought about searching for a 6-month loan.
In our guide to 6-month loans, Little Loans answers some frequently asked questions, including:
If you're looking to repay a loan over 6 months, Little Loans could help you search. Our handy loan calculator shows how much you could borrow and repay over 6 monthly instalments.
Typically, people apply for a 6-month loan to pay for an urgent expense, such as an unexpected bill, a broken appliance, or a car at the mechanics.
A loan is a serious financial commitment, and you should never apply to borrow money that you don't need or can't afford to repay.
If you're approved for a 6-month loan, you'll repay the money you've borrowed in monthly instalments, including interest, over a period of 6 months.
A payday loan is usually repaid in full within a month. If you're hoping to spread the cost of borrowing over a longer period, you might want to look into short-term loans instead.
How much money you could borrow across 6 months will vary from lender to lender. Little Loans is a credit broker, and we could help you search for a 6-month loan between £100 and £2,000.
Please note that other loan amounts and terms are available. The lenders on our panel offer short-term loans from £100 to £10,000 with repayments starting at over 3 months, all the way up to 60 months. How long you'll have to repay your loan will depend on the amount of money you apply to borrow.
Looking for 6-month loans online?
You can search for a 6-month loan with Little Loans if you:
If you're looking for a 6-month loan for bad credit, Little Loans could help you search. A number of the lenders on our panel specialise in loans for people with bad credit, and they could be willing to consider your application, depending on your circumstances.
Important it's not possible to get a no-credit-check loan. In the UK, lenders must carry out a creditworthiness assessment before approving a loan. This is a requirement set by the Financial Conduct Authority (FCA) and is in place to protect you.
A creditworthiness assessment is usually a hard credit search and, in some cases, an Open Banking check.
Using Little Loans' credit broking service to search for a 6-month loan is straightforward.
If you've taken out a loan, you must keep to your monthly payment schedule.
Making your repayments in full and on time throughout your loan term could have a positive effect on your credit score, provided that any other credit commitments have also been handled responsibly.
A missed or late repayment could hurt your credit score. You could also be charged a late fee by your lender.
If you're worried about an upcoming repayment, it's important to speak to your lender - the sooner the better. Your lender will want to work with you to help you manage your repayments.
If you need financial advice and support, please know that you can access it for free from any of the following charities and organisations: StepChange, MoneyHelper, Citizens Advice and National Debtline.
*Little Loans uses soft search technology to search for a suitable loan for you. A soft search will not harm your credit score. If you're matched with a loan and choose to make a full application with the lender, they will carry out a creditworthiness assessment, which will include a hard search or an Open Banking check. A hard search will remain on your credit file for up to 12 months, and multiple hard searches in a short period of time will harm your credit score.
**The time it takes for the money to appear in your account will depend on your lender and your bank's policies and procedures.
Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender