Borrow £1,000 over 1 year

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Personal loans for £1,000 over 1 year

Taking out a personal loan of £1,000 over one year might be difficult, as most lenders will have a minimum amount they will offer you as a loan and £1,000 may be too low. But with a good comparison service, you can find anything you need from the UK personal loans market.

What is a personal loan?

A personal loan is a way of borrowing money where you don’t have to secure it against your house. So if you run into difficulties paying it back, you won’t have to give up your home. With a personal loan, you’ll normally get a fixed APR, allowing you to budget for your monthly repayments and set up a standing order to pay them.

Should I get a credit card instead of a personal loan for £1,000 over 1 year?

If you need to borrow £1,000 over 12 months, you might find a credit card is cheaper and an easier way to borrow, especially as you may not need a full year to pay the money back. You should use our credit cards comparison service to search for a card, and then compare the interest rates with those offered by the loans available. However, beware that some credit card issuers might not like to offer you £1,000 on a credit card straight away and you may have to prove you’re disciplined enough with a lower credit limit before being offered a higher one.

THINK CAREFULLY BEFORE SECURING ANY DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.