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Unsecured loans, are monetary
loans that are not secured against the
borrowers assets. Unsecured loans range in
values. Lenders typically charge higher
interest rates for an unsecured loan (in
comparison to a secured loan of the
same value and term, with the same credit
status) as they do not have collateral
against the loan. For more help on
Unsecured Loan frequently asked
questions click here. The range of unsecured
loans and values are as follows:
If you want to
find out more about
your current credit
status click here or using are "Credit
Status" icon above. If you would would like alternative
unsecured loan providers then why not visit our complete
list of "finance
partners"
Unsecured Loans
Frequently Asked Questions
- What is the difference between a
secured loan and an unsecured loan?
A secured a loan in which the borrower
pledges some asset (e.g. a car or
property) as collateral for the loan,
which then becomes a secured debt owed
to the creditor who gives the loan. The
debt is thus secured against the
collateral You can borrow a much
larger sum than if the loan is
unsecured, and repay over a much longer
time span - often up to 25 years
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Property Owner |
Yes with mortgage |
Doesn't matter |
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Min / Max Loan Value: |
£5k - £ 1 |
£100 - £25k |
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Max Repayment period: |
25 years |
7 years |
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Approx Time |
3 weeks 2 |
1-2 weeks (if you qualify) |
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Other: |
Must have "free equity"
3 |
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- Depends on your
credit rating & the
amount of "free equity"
in your property
- Possible faster for
loans over £25k
- The difference
between estimated
property value and
mortgage balance must be
greater than the value
of the amount you wish
to borrow
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- If I am a homeowner can I get
a unsecured loans?
Yes, homeowners can get both unsecured
and secured loans, a secured loan can only be arranged
using your property as collateral.
However, if you're not a homeowner, you
can apply for an unsecured loan at a
competitive rate. If you want
to consider an unsecured loan then use
the following links: Tenant
Loans (from £100 - £15,000) or
Unsecured Homeowner Loans (from £100 - £25,000)
or
Secured
Homeowner Loans (from £5000)
- If I have a bad credit history,
can I still get a unsecured loan?
The simply answer is possibly. Typically pay a
higher APR when you have a poor or
adverse credit rating.
- I have seen many finance terms that
I don't understand, can you help?
We suggest you visit our
glossary of
terms for more help.
- Why are your forms so short?
We try to request the bear minimum of
information. We could ask for all the
information online however we still be
required to go through all the detailed
questions with you either over the phone
or in person.
- What happen after I fill in the
online enquiry?
You will be contacted by telephone so we
can collect the additional information
required, so a team of professionals can
assess your individual requirements and
circumstances and look for the best
secured loan for you amongst a panel of
lenders. We'll do everything we can to
make sure the process runs smoothly and
you get the money as quickly and
efficiently as possible.
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