Unsecured Loans

Unsecured loans are a source of finance for non homeowners’ or private tenants who do not have collateral to pledge against the loan amount.  Home owners can also apply for a unsecured loan if they do not wish to use there assets as security for the loan.

Unsecured loans come with a lot of benefits:

• No repossession of property risk
• Collateral free
• Ease of repayment options
• Quick approval
• Long repayment duration
• Flexible terms
• No property evaluation

If you have been declined loans by different lenders because you do not have any assets, an unsecured loan could be the only option left for you.  With unsecured loans you can borrow anything from £1000 to £30,000 for a term of 1 to 10 years. 

To be approved for a secured loan you will need have your credit score and your income checked, prove that you have a good repayment history.  Once the lenders have got all of these details, only then will they offer their terms and the amount they will allow you to borrow.  At this stage the borrower will be able to negotiate the monthly installments and the repayment terms with the lender.  Obviously this negotiation is based on the borrowers' requirements and his repayment capability.

Unsecured loans can be obtained for a number of purposes without any restrictions. These could be for home improvements, holidays, business expansions or debt consolidation. If you have a bad credit history you may still be able to obtain an unsecured loan although the interest rate will be slightly higher.  This over time will assist you to rebuild your credit status.  If you are interested in obtaining a unsecured loan fill in our online form and one of our team will get back to you shortly, alternativley call us today on 0844 800 8594.