LL Hero Primary
£

Over how many months?

${ loanTerm } Monthly repayments of

£${ monthlyRepaymentAmount | formatCurrency }

Representative APR

59.9 %

Total repayable

£${ totalRepayableAmount | formatCurrency }

( It won’t affect your credit score )

Representative 59.9 % APR

Representative example

Borrowing £2,000 over 24 months at Representative 59.9% APR and Interest rate 59.9% p.a. (fixed) with monthly repayments of £131.05 and a total amount payable of £3,145.20. This example is for illustration purposes only. The rate and / or term you are offered is dependent on your individual circumstances Rates from 39.9% APR to maximum 89.9% APR. Loan terms from 12 to 36 months.

24 Month Loans

Whether you’re looking to consolidate all of your existing loans into one place, or cover an unexpected repair bill, a 2 year loan can be used for a variety of purposes. In order to apply for a 24 month loan, you’ll need to borrow a minimum of £500, or up to a maximum of £5000.

We understand that sometimes life gets in the way, and that can make managing your finances tricky and you’re looking to borrow a little extra. 24 month loans could be the ideal solution for planned expenses and consolidating existing debts.

Unexpected bills such as home repairs can be costly if you need to replace something like a boiler, or a car failing its MOT could cause you to go over your monthly budget. However, Likely Loans may be able to help. We offer 24 month loans for bad credit, so your credit rating may not be an issue, even if you’ve previously been declined for a quick loan elsewhere due to a poor credit history.

All of our loans – including our 24 month installment loans - are unsecured, so there’s no requirement for you to be a homeowner to apply for a 2 year cash loan, and no guarantor is needed. Plus, if you apply for a quote on any of our online loans, your credit rating won’t be affected until you complete the full online application.

How Do I Apply?... 3 steps, that’s it!

When applying for one of our unsecured personal loans there are three simple steps to follow:

Likely Loans laptop icon

1. Tell us a little bit about you

Likely Loans laptop icon

2. Get an instant response

Likely Loans laptop icon

3. Money next working day

Use Likely Loans for a 2 Year Loan: A Bad Credit History isn’t a Barrier

There are many reasons to use Likely Loans for 2 year loans:

  • Fixed monthly instalments with zero fees
  • You’ll know if you are eligible to be accepted within minutes and exactly how much you would pay for the duration of the loan
  • There are no hidden or additional fees, with clear monthly repayment terms
  • Like all our loans, applying for a quote on a 2 year loan won't affect your credit score

Frequently answered questions

Can I borrow a 24 month loan with a bad credit score?

With the ability to shop around online for different types of loans, getting rejected by your bank isn’t necessarily a problem as lenders like Likely Loans may be able to give you access to bad credit loans despite a low credit score. We understand that while you may not have a perfect credit history, it doesn’t necessarily reflect your position now, so when applying for a 24 month loan with bad credit, lenders will look at your current financial situation and other indicators to decide whether you’ll be able to afford the fixed monthly repayments on the loan.

If you’re worried about being rejected because of your bad credit history, you can check your eligibility with us without having an impact on your credit score. We do soft search credit checks which mean your credit file won’t be affected at this stage. We do soft search credit checks which means your credit file won’t be affected at this stage. Simply enter a loan amount and term into our online loans calculator with a few of your details to receive your personalised loan quote.

Can I get a 24 month loan without a guarantor?

Yes. We offer unsecured loans which mean you neither need to secure your loan against your assets nor need someone else to be a guarantor as part of your online application.

Can I get a 24 month loan with no credit check?

No. As responsible lending is our priority, we carry out credit checks to make sure we aren’t lending to anyone who can’t afford it.

Can I use a 24 month loan to pay off other debts?

Of course, you can use the loan for things like unexpected bills, car financing and home improvements. Debt consolidation can often be a good choice depending on your circumstances. However, we encourage you to work out if consolidation loans financially make sense as sometimes spreading the flexible repayments of a larger amount over a longer term can mean you pay more interest.

What is the criteria to get a 24 month loan?

As with most loan providers, our lender requirements are that you’ll need to be over 18, a UK resident, employed and have a bank account and debit card to complete a loan application. In terms of income, you should be able to comfortably afford monthly payments from your regular income - for example, as a guide, £700 per month would be a minimum. We’ll look at your credit history and personal finances before making our decision.

How long will it take before receiving the 24 month loan?

Applying for any loan with Likely Loans is quick and simple and you’ll find out if you’ll be eligible within minutes. After that, once your application goes through the required checks, if you meet the loan approval criteria, the money should be received in your account by the next working day.

How much will a 24 month loan cost?

Your total amount repayable is dependent on how long it takes you to repay your loan and the APR you’re offered which is based on your personal circumstances, amount and loan repayment period. As an example, borrowing £2000 over 24 months at representative 59.9% APR and interest rate 59.9% p.a. (fixed) with monthly repayments of £131.05 your total amount payable would be £3,145.20.

What is an APR?

APR is the annual percentage rate and important for calculating the cost of money borrowed. Interest rates, fees, how often it’s charged and all other costs contribute to the APR. Representative APR is the APR we'll offer to at least 51% of people who are accepted - it's not a guarantee. The remaining customers that are also accepted will be offered a different APR than the one advertised based on individual circumstances. Please note, the APR offered is based on your personal situation and is dependent on many different factors. As such the APR offered may be different from the representative APR.

Will I pay a higher rate if I have bad credit?

Yes, you might. As a lender, we offer our representative APR of 59.9% to at least 51% of customers who are accepted for a loan. If you have poor credit, you may be charged a different rate.

Is a 24 month term right for me?

Once you see what your monthly payments will be as part of your quote, it’s worth judging whether 24 months is still the right repayment term for you. If you find you can actually afford more each month, a shorter term will make the total amount repayable cheaper overall.

How much can I borrow?

For a 24 month loan, you can borrow from £500 to £5000 and pay back the loan amounts in monthly instalments.

Can I top up my 24 month loan?

You may be able to top up your loan in the future if you become eligible. You can check your eligibility through your online account.

MFC17
Feefo sq gold service 2019 grey yellow
Credit Awards Al Winner19
CCA Digital Champion

99% our customers are happy with our service

Feefo Logo
Feefo Logo

Read more reviews

Receive an Instant Quote for Loans Over 2 Years

You can apply online for a no obligation quote with us today. We’ll just need some personal information, and you’ll get an instant response on your eligibility.

Apply for a 2 Year Loan Today

You can apply for a 2 year loan for bad credit without a guarantor today. Just enter your details for a quote to get started. If you require more information, simply contact us for further information or visit our FAQs.

( It won’t affect your credit score )

Representative 59.9 % APR