An Unsecured Loans is the same as a Personal Loan, and it allows you to borrow money without having to provide security against it, such as your home.
The decision is based on your personal credit history. This is verified by a credit check to determine your credit rating.
If you need a loan over £25,000 and you’re a homeowner you can consider a secured loan.
If you already have debt problems then it should be advised that you seek expert help before you get another loan. Our Debt Helpline advisors will be happy to help on all personal debt matters.
Please call our specialist Debt Helpline advisors on 0808 131 9113, who will search the market to help you find the best unsecured loan for your circumstances.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 5.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.