An unsecured loan is a type of loan given by the lender under agreement that the borrower will make payments on time and in full. The lender takes a high risk when loaning the money which is why the interest rates are higher than a secured loan. This a great loan for small personal loans taken out for holidays, new cars or even home improvement.

There are many advantages of taking out an unsecured loan rather than a secured loan. The following are the main advantages of the loan type:

	There is no security involved when taking out the loan.
	You do not have to be a home owner to take out the loan.
	The funds are available quicker than a secured loan.

There are also disadvantages for the loan and it is vital that all borrowers know this before taking out an unsecured loan. If you are unsure contact our loan advisors now and get all questions answered immediately. Taking out a loan is a big commitment which is why getting the right deal for you is the most important thing to us.

	The interest rates charged are higher.
	Not available if you have a bad credit history
	The redemption fees are higher than a secured loan (consult your loan agreement).
	How do you apply for an unsecured loan?

Applying for an unsecured loan is simple, all you have to do is call our advisors on 0800 1777 497 or alternatively fill in our online enquiry form and one of our advisors will call you back.