Apply Now
I Agree to the Terms & Policies.

Unsecured Loans – A guide

Unfortunately, we can all find ourselves in a tricky financial situation from time-to-time. Perhaps your car has broken down and you need it fixed so you can get to work, but you cannot afford the expensive repair bill? Maybe you have simply had trouble managing your finances, and things have gotten a bit out of hand? No matter what has happened, it is important to recognise that you are not alone. This happens to most people at some stage in their life, and there is help available. Not everyone has friends or family they can turn to, nor do they want to discuss their financial matters with people they know. This is where an unsecured loan becomes an attractive.

Loan Broker is the prominent loan adviser in the UK, introducing the most effective deal on unsecured loans. We always believe in presenting the absolute financial support so that our prospective customers can obtain assured funds for their financial stability. Our main objective is to assist you in finding out the unsecured personal loans to match your financial requirements.

What are unsecured personal loans?

An unsecured loan is a fixed rate loan that is taken out for personal use, i.e. for home improvements, small value purchases, repair bills, building credit, cars, rental purposes, and holidays. There are some instances when an unsecured personal loan may be taken out for small business purchases. These loans are typically small in value, i.e. between £500 and £25,000, depending on your circumstances. Your eligibility for this type of loan is determined based on your credit rating, as no assets will secure the lending. Once the firm has assessed your credit rating, they will be able to give you a % APR based on this. This is ideal for those that do not have any assets to their name, such as a property.

The benefits of unsecured loans

There are many benefits associated with this type of loan, irrespective of whether you are interested in unsecured business loans or personal loans. This includes:

Bank or alternative lender?

There are many reasons to consider an unsecured personal loan. However, when it comes to unsecured personal loans UK, is it better to deal with the bank or an alternative lender? Most people find that the latter is the only option. Banks are notoriously difficult to strike a deal with in the modern amount; they only want to take on minimal risk. Plus, their loans tend to be designed for those seeking a bigger amount for a longer period of time.

Are you the right candidate for an unsecured loan?

Not everyone is suitable for an unsecured personal loan. After all, there are some requirements that are going to need to be met. Primarily, you will need to have a good credit rating. To secure a loan, you need to show that you are not a risk to the creditor, and so it helps if they can see that you have made credit repayments on time in the past. This does not mean that unsecured loans for bad credit aren't available; you will be assessed, and a decision will be reached on an individual basis.

Plus, there are other factors that will improve your chances of being accepted for this type of loan, which includes whether you have a good relationship with the bank, if you have job security, and how long you have lived at your current address. In regards to the latter, your credit score will be boosted if you have lived at the same address for a long time. Moreover, those with a secure job are viewed as less of a risk, as they have continual income that will cover the repayments.

Important points to keep in mind

As you can see, the benefits of taking out an unsecured loan when you find yourself in financial difficulty are extensive. Nevertheless, you do need to be responsible. If your circumstances have changed and you cannot make the repayments, please get in touch with Loan Broker straight away so we can see if there is any way we can resolve the situation, i.e. by altering your repayment schedule. Although stringent checks are conducted to ensure you can afford to make the repayments, you have a responsibility yourself to only borrow what you can afford to repay.

Get in touch today

If you are interested in an unsecured loan, please do not hesitate to get in touch with Loan Broker. We are happy to answer any queries you may have. We understand that most people do not have time on their side when they need to borrow money, which is why we act with urgency when dealing with all applications. At Loan Broker, we will assess the details you have provided, and determine whether you can afford to make the repayment. If you can, we will agree on an amount to be borrowed and a loan repayment schedule. We are here to help you, so please make sure you get in touch if you have any difficulties along the way.

Disclaimer

The Website registered in The UK and is Authorised and Regulated by the Financial Conduct Authority (FCA).Loan Broker IS A LICENSED CREDIT BROKER AND NOT A LENDER. WARNING: LATE REPAYMENT MAY CAUSE YOU SERIOUS FUNDS PROBLEMS. FOR HELP, GO TO MONEYADVICESERVICE.ORG.UK

Loan Broker does not charge any fees. If you are contacted by anyone claiming to be from Loan Broker and request you to make a payment, report to www.actionfraud.police.uk. We are aware that there is an ongoing scam that extensively uses the Loan Broker. This has nothing to do with our company, and we have no association whatsoever in direct or indirect way with the scams.

All loan deals, quotes and financial promotions are subject to lenders requirements and approval. Loan Broker has no role in it.


The approval of Loans & Quotes is subjected to Credit Score and Affordability requirements by lenders. If you meet the lender's criterion, you can borrow the money. We as a broker make an attempt to process your application and introduce you to most suitable lenders in our panel.

Click to Call
Apply Now
photo of Organization Organization
Loan Broker
United Kingdom
0203-695-6207