Unsecured Loans

An unsecured personal loan is, as the name would suggest, not secured against anything such as property, a car or a boat.

Unsecured loans are available for a range of different amounts and repayment terms.  The normal maximum you can borrow is £25,000 on an unsecured basis, but you would most likely need to be a homeowner and have an unblemished credit history in order to obtain that amount unsecured.  A more likely maximum amount is around £15,000.  Terms range between 1 and 7 years, but some lenders but some unsecured lenders off terms up to 10 years.

Some lenders are offering very attractive rates of interest, some as low as 5.6%, but again, you will need to have an impeccable credit rating to get that low a rate.  If you have a slightly tarnished credit history, you may struggle to get a low rate unsecured loan, as unsecured loan lenders are adverse to risk, and may reject your application, or charge a higher interest rate.  If that is the case, and you are a homeowner, you may be better off getting a secured loan as you may find that you get a lower interest rate as the lender is less exposed to risk.

Secured or Unsecured

If you have a history of missed payments and/or defaults, you may struggle to get an unsecured loan.

Secured loans are often available at lower interest rates than unsecured loans, due to the lower risk to the lender. This may help with affordability as the lower monthly re-payments help make the loan easier to afford.

The maximum amount you can borrow unsecured is £25,000 but more usually £15,000. However, secured loans are available up to a maximum of £150,000.

Unsecured loans normally have to be repaid within a short time; the maximum is usually 7 years, whereas secured loans allow you to spread the payments over a much longer time period, up to 25 year. This means secured loans can be more affordable, as the monthly repayment can be significantly less.

If you are adamant that you want an unsecured loan because you are scared that if you default on the repayments you need to think again.  Many unsecured lenders are now seeking court orders to place a charge on the property of people that do not pay back their unsecured loans and debts.  This fundamentally means that your unsecured loan may quickly become a secured one, and if you took the unsecured loan at a higher rate than you could have got a secured loan, then double whammy.

Any Purpose Loans

Whether you need to raise finance for a special purchase or event, maybe some home improvements, or simply because you wish to consolidate some expensive credit and debts into one easy monthly repayment, we have the right loan for you.

• Debt Consolidation
• Holiday
• Home Improvements
• New Car
• Wedding
• Whatever

Easy Online Quote Form

Simply fill in the quote form, and leave the rest to us.  It will only take you a couple of minutes and then we will search through all the loans available to find the best one for you.  There are no credit checks at this stage and you are never under any obligation.

Our aim is to get you the finance that you need with as little stress and inconvenience as possible.

We pride ourselves in our speed and efficiency, and our only goal is to get your loan application processed as quickly as possible.  Try us now.  What have you got to lose?

• Are you looking for a low rate unsecured loan?
• Need a fast decision in under 1 hour?
• Borrow from £500 to £25,000
• Terms from 1 to 10 years
• Loans available for homeowners and tenants
• Loans that suit your needs