The One Stop Money Shop offers a loan repaid over 12 months to give you breathing space if you have to pay for an emergency or an important purchase.
Rather than paying the full amount and interest in just one month like a payday loan, you can spread repayment over 1 year in equal monthly instalments – and you have the option to repay early if you would like to with no extra fees. Borrow £400-£2,500 using our online application form and same day funding is available.
Representative Example: £500 loan repayable over 12 months £81.25 per month total amount payable £975.00. Representative 295.60% APR fixed
With 12 month loans, you are able to repay your loan in 12 equal monthly repayments on a scheduled repayment date that you choose, i.e the last working day of the month.
You will receive a clear loan agreement with all the terms and conditions of your loan and you will be able to review this and sign this electronically before proceeding.
With One Stop Money Shop, you will receive your loan in one lump sum once you have been approved and there are no fees for applying or anything you need to pay to get your loan funded.
12 month loans can be used for a number of purposes including paying for emergencies such as household, plumbing or car repairs. Equally, you may wish to borrow £500, £1,000 or £1,500 for an important purchase such as home improvements, car payments, school fees, debt consolidation, pressing bills and more.
If you decide that you do not need the loan for as long as 12 months, you always have the option to repay by early by calling us or contacting us directly. If your loan is shorter than expected, you will pay less interest overall, since your loan is calculated on a daily interest rate. We are proud that we do not charge any early exit or early repayment fees either.
The One Stop Money Shop has been a direct lender since 2005 and we are proudly authorised by the Financial Conduct Authority (registration number 713424).
We will process your entire loan journey from start to finish, from the application, underwriting, funding and collections. You can have peace of mind that we will keep your details safe and that you will not be bombarded by messages and calls from third parties. You will be working with us and only us.
By completing our online application form in less than 5 minutes, we will be able to provide an indicative quote. Subject to further checks, we aim to facilitate funds on the same day loan as long as you are approved by 3:30pm.
Receive Funds In One Lump Sum – If you have a pressing emergency or important expense, you will receive your loan ranging from £400-£2,500 in one lump sum so that you can pay this immediately.
Flexibility To Repay – You can repay your loan in 12 equal monthly instalments (see instalment loans), so you will always pay the same amount each month and this is collected automatically via our system so that you do not have to call up or make a manual payment each time.
Flexibility To Extend – Our loans can be repaid over a maximum term of 24 months. So if you need to extend your loan repayments further, we are able to do this. Please note that you will incur more interest if your loan is open for longer.
Early Repayment – You can repay early at any time and will save money on the overall interest charged by doing so. There are no early exit fees.
We are able to take a view on borrowers with bad credit, poor credit or CCJs provided that they have a stable income, employment, meet the affordability requirements and are committed to repaying their loan on time.
We understand that emergencies happen and the unexpected can cause you to have a less than perfect credit score. If you want to borrow money over 12 months, this could help you spread repayment and get back on your feet.
We run credit checks using Equifax to determine the eligibility of our customers and will always do whatever we can to help customers with different credit histories.
To apply for a CCJ loan, you need to meet the following criteria:
Complete a quick Online Application in just 5 minutes for instant provisional approval.
Apply Now
Our entire process is online and can be completed by desktop, laptop, mobile or tablet 24 hours a day, 7 days a week.
We require you to complete some basic details including your name, address, DOB, contact details, income, expenses, the amount you would like to borrow and how long for.
We review your application and make sure that it is the right fit for you, including the loan amount and rates offered. Whilst a lot of our processes are fast-tracked, we may request a phone call or proof of income and employment to process your loan application further.
If your application is approved, we will send you a clear and transparent loan offer with all the necessary terms and conditions. All the information you will receive is electronically sent by email and SMS and can be signed online. Take your time to read it carefully before you sign it. Once you sign the agreement, the money will be sent directly to your bank account, usually within the same day or next business day.
How Fast Can You Transfer Funds?
We can offer same day loans or funding within 24 hours for any loans approved before 3:30pm on a work day.
If you have applied on a weekend, we will do our best to complete your loan as soon as possible and this could be on the next working day.
Are Your 12 Month Loans Unsecured?
Yes, our loans are unsecured so you do not require any guarantors or security such as vehicles or your home to be eligible. Your eligibility is not based on the value of your assets but rather your income, credit status and affordability.
Do You Run Credit Checks Prior To Approval?
Yes, we will typically run a series of credit checks using Equifax prior to funding and approving a loan.
We are willing to consider customers with bad credit scores but they should have steady employment and regular income in order to make repayments on time and avoid falling into financial difficulty.
Do You Offer 12 Month Loans With No Credit Checks?
No, we do not offer 12 months without credit checks, we will always run credit checks to ensure that a candidate is suitable for one of our loans.
There are alternatives available where no credit checks are required such as secured loans or logbook loans, which use security but these carry risks if not repaid on time. If you need professional advice or debt help, you can speak to charities such as StepChange or Citizen’s Advice Bureau.
Can You Use 12 Month Loans To Pay Off Other Debts?
Yes, you can use our 12 month loans to consolidate or pay off other debts, such as car repairs or household bills.
We do not encourage using our loans to help pay off other loans since this can create a dependency on using loans and credit to stay on top of debts.
With My Credit Score Impact The Rate That I Am Charged?
Yes, typically those customers with good credit may be able to access lower interest rates and be able to borrow higher amounts.
If you have a bad credit score, the interest you are charged may be a little higher than average to manage our risk.
What Happens If I Cannot Repay My Loan?
If you cannot repay your loan, you will be sent an email and SMS follow up and reminder for payment. Our team will contact you a legal amount of times to recover payment and if delayed, your loan could be subject to late fees, penalties, added interest and a negative impact to your credit score.
If you are having financial difficulty, we encourage you to speak to our team as early as possible so that we can offer assistance.
