Should I Apply for an Unsecured Loan?
An unsecured loan means that you borrow up to £25,000 without putting down anything as collateral. Your eligibility for a loan is based on your income and credit rating, rather than the value of your home or car.
So for the borrower, it is pretty low risk and therefore if you are unable to keep up with your repayments, you will not risk losing your home or vehicle through repossession, but it will have an impact on your credit score.
Lending Expert offers a simple way to compare unsecured loans, using our table provided to see loan amounts, rates and terms from a number of competitive lenders across the UK. An application takes less than 5 minutes to complete and you will usually get an instant decision on the screen.
Key Features from Our Unsecured Lenders
- Borrow £1,000 to £25,000
- Repaid over 1 to 5 years
- Rates from 3.8% APR
- Not secured against your house or car
- Same day funding
- Direct lenders
- Bad credit considered
- No guarantor required
What Are The Types of Unsecured Loans?
- Payday loans
- Personal loans
- Home improvement loans
- Debt consolidation loans
- Business loans
What is The Criteria for Unsecured Loans in the UK?
- 18 or over
- UK resident
- Employed and able to cover monthly repayments
- Valid UK bank account, email address and contact number
- Good or average credit score
- No recent defaults, CCJs, IVAs or bankruptcy
Why Compare Unsecured Loans with Lending Expert?
Lending Expert allows you to compare unsecured loans and get the best deal for you. There are hundreds of lenders in the UK and each offers very different terms and rates and being able to find them all in one place can help you save time and money, rather than going to each lender individually.
If you compare unsecured loans effectively, you could save a few hundred pounds and find the exact loan term and duration that you need.
Our entire service is free to use and always will be. Your details are kept safely and securely and we will not pass on your information to any other companies with your permission.
We have spent years partnering with the best unsecured loans companies and have matched thousands of customers to the right lenders so far. We are a broker which is regulated and authorised by the Financial Conduct Authority.
How Much Can I Borrow with Unsecured Loans?
We offer unsecured loans from £1,000 to £25,000 and the amount you can borrow is based on your income, affordability and credit score. If you wish to borrow the maximum amount, this will need to be reflected in your credit rating, monthly income and expenses to ensure that you afford the monthly repayments without falling into financial difficulty.
What Information Do I Need To Apply for an Unsecured Loan?
When you apply for an unsecured loan, it is actually one of the most straightforward loan applications. Since there are no assets or collateral involved, you simply apply with basic information such as your name, age, contact details, address, monthly income, expenses and loan requirements.
Your eligibility is mostly based on your income and credit score – so our partner lenders will run some basic checks behind the scenes to be able to give you a provisional quote.
Can I Get Unsecured Loans for Bad Credit?
Yes, unsecured loans for bad credit are available, but the lender may charge a higher rate to manage the risk. Some of the unsecured lenders that we work with are willing to take a view on bad credit histories, provided that you have made a number of recent payments and are improving your financial situation.
If you do not have any collateral or want to use your home or car as security, you can look at applying for a guarantor loan, which means that you just need an extra person with a good credit rating to co-sign your loan agreement.
How Soon Can I Receive Funds?
When you compare unsecured lenders through our website, you can choose the one best suited to you. You will undergo some final checks which are completed on the same day of applying and successful customers can usually receive funds within 24 hours or less.
How To Apply for Unsecured Loans Online with Lending Expert
Our process is simple. Compare rates and loan amounts using the comparison table provided and simply click on ‘check eligibility’ with the unsecured lender that meets your requirements.
You will be taken to their website and asked to complete some basic information. Working with unsecured loans direct lenders, they are able to run some instant checks and provide you with a free quotation on the screen.
If you wish to proceed, the lender will carry out some additional checks which could include a quick phone call to you to confirm some details. If everything is on track, your loan can be approved and funds can be sent to you on the same day of applying.
There are no fees for applying and checking your eligibility will not impact your credit score. Lending Expert is proud to offer a free, clear and transparent service, helping you get approved for affordable loans and save you money where we can!