Yes, in some parts of the UK, lenders may use personal loan terms for 12-month loans. The reason is that both loan terms allow the borrowers to use the attained funds for personal use. The applicant does not even need to mention the purpose of the loan. Just provide the necessary financial details, and once approved, get money and use it for any cause. That is why the loans are sometimes called personal loans. Some lenders even use the term No Guarantor or payday loans for the same.