Unsecured Loans (6.9% APR typical variable)
An Unsecured Loans is the same as a Personal Loan, but some creditors prefer to use different names to describe it. It is both ‘personal’ to you and unsecured, meaning that it allows you to borrow money without having to provide security against it, such as your home.
Instead of security, the loan provider (often a high street Bank or Building Society) will base their decision on whether to grant you an unsecured loan by using your personal credit history. This is verified by a credit check to determine your credit rating.
Unsecured personal loans are not available for speculative purposes or business purposes.
Choosing the Right Unsecured Loan.
Personal loans are available for a range of different amounts and repayment terms. Depending on the amount and purpose of the loan, you will be able to choose from a range of repayment periods.
Larger loans such as those over £10,000 can usually be taken over longer terms i.e. 7 to 10 years. The minimum loan amount is typically £1,000 although some lenders do offer £500 and upwards. The maximum amount you can lend is £25,000, although this will vary between lenders and products.
Need a loan over £25,000? If you’re a homeowner you can consider a secured loan.
Please call our specialist Loan Advisors on 0808 131 9104, 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 8.5% 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.
RefusedALoan.co.uk is a trading name of Ask Finance Ltd, which is registered in England and Wales (company number 4229724), Jackson House, Sibson Rd, Sale, Manchester, M33 7RR. Ask Finance is licensed under the 1974 consumer credit act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.