Representative 49% APR
Representative Example: Borrowing: £1200 for 18 months, Total Repayable: £1628.28, Total Interest: £428.28, Interest Rate (Variable): 49.9%. Rates between 9.3% APR and maximum 1721% APR. New Horizons is a registered trading name of New Horizons Finance Limited, which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker, not a lender. Loan repayment terms are 3-36 month loans.

Warning: Late repayment can cause you serious money problems. For help, go to

What are instalment loans?

An instalment loan is simply a type of loan in which you repay the money you borrow over a set number of repayments. These repayments are agreed upon before the loan is taken out and can be paid both weekly and monthly depending on the type of instalment loans you are looking for.

These loans have traditionally been for larger amounts of money, such as mortgages or car loans. However, they are now becoming increasingly popular with people who need Short term loans quickly yet require lower and longer monthly repayments than those offered by traditional weekly payday loans. As such, many direct lenders now offer instalment loans for small amounts and which can be repaid over periods longer than the traditional one-month.

What are the benefits of instalment loans?

In the past, if you required money quickly for an unexpected problem, the only options available were payday type loans which required you to repay the money you borrowed quickly; often the following month. Whilst this is ok for small loans, the short repayment period can sometimes be unrealistic. One benefit of an instalment loan is that it eliminates the pressure of having to repay all the money straight away.

Instalment loan repayments can be spread out over a number of months; making it much more manageable. By giving you more time to repay the money, these loans also reduce the chances of you missing the repayment deadline; thereby helping you to avoid any late charges. A further benefit is that lenders report your repayment history to a credit reference agency. This is done for your benefit as it helps people who make their repayments in the time required to improve their credit ratings.

Can I get an instalment loan with bad credit?

The short answer is yes. Many direct lenders are now offering a range of instalment loans for people who perhaps would have struggled in the past because of perceived bad credit. Understanding that traditional credit scores do not offer a true reflection of a person’s ability to repay a loan, many direct UK lenders are now focusing on what they see as more relevant details when assessing your application, such as whether you are registered to vote and whether you have any existing loans already.

You can spread your loan repayments over 3 to 36 months to fit your budget.

New Horizons

Many direct lenders now cater for people with bad credit by providing instalment loans specifically designed to quickly give you the cash you need and the time to pay it back. New Horizons believes a bad credit score should not prevent someone from getting a loan when they suddenly and unexpectedly find themselves needing one. Therefore, our partner will use your information to quickly compile a list of the best instalment loans for your needs, regardless of any bad credit. All lenders are authorised and regulated by The Financial Conduct Authority and will be completely transparent with you regarding every aspect of the loan. Therefore, you can be safe in the knowledge that there will be no hidden charges or additional fees

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