If you have less than perfect credit and are looking to borrow money over 18 months, then a 118 118 Money loan could be the right solution for you. We offer personal loans from £1,000 to £5,000 to be repaid in fixed monthly instalments over 12, 18 or 24 months.

What can I use an 18 month loan for?

An 18-month personal loan can be used to help finance any purpose, from purchasing a car, paying for your wedding day, funding a new career venture to consolidating your existing debts.

There may also be a time in life when you need financial help, such as your car needing urgent repairs that you haven’t planned for, or perhaps you need to replace the broken boiler in your home.

Whatever the planned or unexpected cost you come upon, taking out an 18-month loan with 118 118 Money could be the best solution to help you take back control of your finances.

Can I still apply with bad credit?

If you’ve been rejected for a loan by your bank because of a poor or less than perfect credit rating, you could still get accepted for a personal loan with 118 118 Money.

We aim to accept – we look beyond your credit score and review your loan application on the basis that you can comfortably pay the loan back in monthly instalments. Even if you have less than perfect credit, we will try to provide you with a loan where possible.

We understand that it can be difficult to get credit from your bank or other lenders – that’s why at 118 118 Money we offer people an alternative solution to their financial situation. What’s more, if accepted, we’ll guarantee to keep your offer valid for up to 5 days so you can shop around to find the best deal for you.

If you’re worried about the impact a rejection may have on your credit rating or you have been rejected in the past, try our no-risk eligibility QuickCheck now – you’ll find out how likely you are to receive a loan before you submit your application.

18 Month Loans with 118 118 Money

We offer unsecured loans to be repaid over 18 months. An unsecured loan means you are not at risk of losing an asset such as your home or car if you miss your repayments, however your credit rating will be affected and you could incur financial costs, depending on your lender.

Our 18-month loans are based on a fixed interest rate, which could make your monthly repayments more affordable. Unlike variable rate loans, you’ll know exactly how much you’ll pay back each month, giving you freedom and knowledge about your incomings and outgoings each month.

As long as you pay each monthly instalment on time, you can rest easy that there are no added fees to contend with later.

What to consider before taking out a loan?

If you are aged between 18 -70, currently employed or self-employed and are earning a monthly net income of more than £700, you could be eligible for an 18 month loan. You must also be a UK resident and hold a current UK bank account and debit card.

It’s essential that you check the APR prior to taking out a loan. This accounts for the interest and charges that you will need to pay in one year and will vary between different lenders.

Representative example: Amount of credit £1,800 for 24 months. Interest rate: 71.3% pa (fixed). 24 scheduled monthly payments of £142.65. Total amount payable: £3,423.67Representative 99.9% APR. 

Rates from 35.9% APR - 99.9% APR fixed.