Guide to UK Personal Loans

Personal Loan: Also known as an unsecured loan, is a loan given on faith of payment. Lenders consider unsecured loans risky and this results in their charging higher interest rates. The loan is legally binding, but is not backed by a secondary form of security, but rather your credit worthiness that you’ll make the repayments as promised. If the loan is defaulted upon, the lender has no other methods available for collections other than legal retribution. Unsecured loan is good for people without property to secure the loan, such as a tenant, a young adult without property or someone just trying to establish credit. But unsecured loans have some serious limitations. The lender usually charges a higher interest rate for an unsecured loan, because he assumes a higher amount of risk. An unsecured loan is often harder to get than a secured loan. Banks are offering a variety of options for this type of loan. Line of credit, signature loans, short-term loans, personal loans, student loans, auto loans and various others loans come under unsecured loans.

Banks variations of unsecured loans include: short-term loans, personal loans, student loans, auto loans (in some cases), and various other loans that come under the umbrella of unsecured loans.

You can compare and apply online for UK personal loans here!

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	UK Loan finder With interest rates as low as they are it makes sense to look around! This simple form will show you what deals are available. Single or a joint application? Single Joint How much do you want to borrow? £ Are you a home owner? No Yes Length of the loan? - Select - 6 months 12 months / 1 year 24 months / 2 years 36 months / 3 years 48 months / 4 years 60 months / 5 years 72 months / 6 years 84 months / 7 years 96 months / 8 years 108 months / 9 Years 120 months / 10 years 132 months / 11 years 144 months / 12 years 156 months / 13 years 168 months / 14 years 180 months / 15 years 192 months / 16 years 204 months / 17 years 216 months / 18 years 228 months / 19 years 240 months / 20 years 252 months / 21 years 264 months / 22 years 276 months / 23 years 288 months / 24 years 300 months / 25 years Please enter your date of birth  /   /  Do you have a history of bad credit? No Yes