I think you can set up any payment schedule. I think the interest free thing is with repayments over 12 months or less basis. You can pay it over 12 months.
They have a new loan company now since beginning of October. Where the Apr is less and you can pay over 4 years with 2 years interest free. I know that's not what you asked but it's worth knowing
As for the criteria, I think you just have to be in work with a steady income and have a good credit rating. Maybe check your credit rating with your back first before you apply. Nothing wise than going through it all and finding you can't have it!. Your PC should be able to give you an answer straight away as she'll fill in the firm for you over the phone instead of the other loan people who needed a phone book of papers! Lol. They are also more accepting than the other company! My partner is paying for mine :)) so not 100% sure of full criteria! Sorry xx