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Unsecured Loans: UK Overview
If you don't own your home – or you don’t want to offer your house as security to the lender – an unsecured loan may be the way to go. There is strong competition in the unsecured loan marketplace, and you can find good deals by shopping around - especially if you look online.
You may pay a little more in interest, because unsecured loans are more risky for lenders than secured loans.
Apply for unsecured loans at Accepted.co.uk
A word about Unsecured APR
Pay careful attention to those three little letters. Do you know what your Annual Percentage rate is? No?
A 2004 survey by the Office of Fair Trading found that most people (75%) don’t know the APR on their credit cards. So make sure you know it on your loans. The lower the amount you borrow can mean paying a higher interest rate. In some cases a headline APR rate of 8% can leap to 20% if you borrow less than a certain sum. Interest mounts up if your payback time stretches over a number years.
Compare unsecured loans at Moneyspotting.co.uk
If you have a bad credit rating, it is likely that you will have to seek an unsecured loan from a specialist lender, who will charge a higher APR.
Secured Loan Providers:
Types of Secured Loan Available:
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