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Just answer a few questions about yourself and the 12 month loan you want. We’ll search the market and show you what’s available.
Find the right 10 year loan for you
Compare loans from providers across the market
Just answer a few questions about yourself and the 12 month loan you want. We’ll search the market and show you what’s available.
You can compare a wide range of 12 month loans and see your chances of being accepted.
Found the right 12 month loan for you? Just click through the loan provider to start your application.
If you’re looking to invest in a big project like home improvements, a 10 year loan could be suitable. Likewise if you want to consolidate your existing debts taking out a personal loan over 10 years could help spread the costs.
You could opt for a 10 year secured loan - this is where the debt is secured against your property. You might be able to take advantage of lower interest rates compared to short term loans. Plus, because you’re spreading your repayments over a longer period, your monthly repayments will be lower.
Remember you’ll be charged interest over the 10 year loan period, and the longer you borrow, the more interest you’ll pay overall.
When you’re pre-approved, the loan amount, duration and interest rate are all confirmed
When you know how much you’ll be able to borrow and how much it will cost, you can choose a loan that’s right for you
This protects your credit score as you’re less likely to be rejected when you apply
A 10 year loan spreads the cost of a big project over a long period, so it’s easier to deal with
It may mean you can borrow more money than you could over three or five years, with lower interest rates
Your monthly repayments will be lower than with a short-term loan
A 10-year loan is a long commitment and you could face big early repayment charges if you try to pay it off too soon
It could be harder to get approved for a long term loan if you don’t have a high credit score
You’ll pay more interest overall than on a shorter loan since you’re borrowing the money for longer
We’ll do the hard work – just pick the deal you like best
Tell us a little about yourself, your finances and the loan you want
We search through the UK’s leading loan providers
Sort loans by overall cost and your likelihood of being accepted
Once you’ve taken out a 10 year loan, the money is yours and you can do whatever you want with it. Many people use 10 year loans to fund an extension to their home, for example, but there are plenty of other uses too – you could use your loan to consolidate your existing debts, pay for major events like a wedding, or fund your further education.
When you apply for a 10 year loan, your provider will always run a credit check. It’s still possible to get a long term loan with bad credit, especially if you can secure it against your property, but your credit score will always be taken into account.
It will usually be possible to pay back your 10 year loan early – but your lender may impose an early repayment charge. Be sure to read the terms and conditions before you sign up to any long-term loan so you don’t end up with a nasty surprise later if you want to pay it back early.
When you compare 10 year loans with MoneySuperMarket, we’ll just need some basic information from you – your name and address, your employment details, and your annual income. Searching and comparing loans with us won’t affect your credit score in any way.
But, once you’ve found the loan you want and you make a full application the loan provider will run a full credit check on you before it can accept you for a loan.
If you can’t afford your repayments, talk to your lender – they should take steps to help you, for example pausing repayments for a few months while you get your finances in order (you’ll still be charged interest over this period), or restructuring your loan to make it more affordable. If you don’t let your lender know and you miss repayments you could be charged big fees and extra interest - and your credit score will be damaged.
With a 10 year loan, you could be approved to borrow more than with shorter loans, although this is not always the case. There’s no set limit on how much you can borrow – it all depends on your personal circumstances, such as your income, your outgoings and your credit score. To see how much you could borrow, try our simple loan calculator, and choose ‘What can I afford?’.
The longest length of a loan you can get will depend on the type and the provider you borrow from. The maximum amount of time is usually 10 years. Here at MoneySuperMarket, you can compare loans that go up to 25 years.
It’s important to remember that although a longer loan term will lower your repayments, you’ll end up paying more in interest overall.
You can get a 10 year loan with a bad credit score but it’s unlikely you’ll be offered the best rates. You probably won’t be able to borrow as much as someone with a better credit rating. If you have bad credit, you should consider these types of loans:
Secured loans. When you put down a valuable asset as security for if you can’t repay the loan.
Guarantor loans. A family member or friend acts as a guarantor and is liable to repay the debt if you can’t.
Bad credit loans. Specialist lenders offer these loans to those with bad credit scores. Loan amounts will be smaller and interest rates will be higher with bad credit loans.
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