Unsecured Loans Guide
Get an unsecured personal loans quote
Unsecured loans are loans made to individuals which do not require any form of collateral since the credit quality and financial position of the individual is sufficient for the lender to extend credit without collateral. Most lenders limit the size of the unsecured loans to less than £15,000 or £25,000 without special credit approval.
The key plus point of an unsecured loan is that you can qualify for one if you don't have a house to use as security.
Unsecured loans tend to be small and more limited in size in what you can borrow. If banks lending over a certain amount, they will want security to keep their risk low. Unsecured loans can also only be used for certain purposes which the bank may dictate as part of the agreement e.g. unsecured loans cannot be used for business purposes.
The credit rating of those qualifying for an unsecured loan may also have to be higher than someone applying for a secured loan - again because the bank has to keep its risk low.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR
OTHER LOAN SECURED ON IT. All loans are subject to status. Written quotations
are available directly from the lender on request to the lender. A broker
fee might be due on transactions completed through this site.
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