Unsecured loans

What are unsecured loans?

You can compare leading UK unsecured loans here

Unsecured loans are personal loans similar to secured loans, however differing in several important ways:

• Not secured against your home
• As such usually higher rate of interest
• Usually a lower amount

One key thing to remember when searching for a suitable UK loan, is that advertised interest rates are often not the rates you are offered when filling in your uk loan application. This applies to both secured and unsecured personal loans. The reason behind this is that the interest rate is calculated on a number of different factors to do with your credit rating and credit history.

In a similar way to secured loans, unsecured loans can be used in pretty much any way you want:

• a well deserved holiday
• buy a new car
• consolidate your other debts

Unsecured personal loans are regulated by the Consumer Credit Act. This is useful as it means that variable rates are regulated!