A fixed term loan repays both the loan advance and interest over the term of the loan. So long as you make your regular monthly repayments, you will repay the loan IN FULL over the agreed term.... Transparent, simple and FAIR; It's our name on the tin! You must be 18 or over and have a UK bank account, you will also need a Guarantor who will undertake to repay the loan if you don't; for whatever reason. All LendFair loans require a guarantor.