Unsecured Loans

Unsecured Loans To Your Door

Unsecured Loans To Your Door

Unsecured Loans To Your Door – Any purpose personal loans for UK tenants and homeowners. Also called personal or signature loans because they’re agree on the strength of a signature or promise to repay.

Actual terms will vary from lender to lender but below is a general overview of what a doorstep loan is and how it works.

For more details on unsecured loans click here.

Unsecured Loans – Explained

An unsecured loan is a personal loan which is a loan that is provided to you and does not require any security or guarantee. This means that you don’t have to be a home owner to apply – Local Authority tenant, private tenant, living with friends or family or homeowners … all will be considered.

Good credit or bad – there are lenders out there prepared to consider your application but obviously interest rates and overall cost will vary accordingly. Usually larger loans, often up to £15,000 (sometimes more) that can be spread over a longer term of up to 5 or sometimes 6 years.

Examples Of Unsecured Loans.

Unsecured loans are advertised everywhere these days – from your local bank and building society to online brokers and bad credit providers. There are also a number of comparison websites where you can shop around for a good deal.

Interest rates and terms can vary greatly and watch out as some providers may charge an upfront fee.

Typically though an unsecured loan will be available to a maximum of around £15,000 and a repayment term of up to around 60 months (5 years).

  

Always shop around – especially if you have no problems with your credit rating as interest rates can vary quite significantly depending on the type of lender and the risk attached to the specific loan.

Unsecured Loans To Your Door – How Much Can I Borrow.

The actual amount you able to borrow on an unsecured loan will be very much dependent on your own personal situation and circumstances. Loans are usually advertised as from just a few hundred pounds and up to around £15,000, although some companies advertise up to £25,000. If you’re looking for more than this the chances are you may be asked to provide security.

Unsecured Loans – What Can I Use The Money For.

Unsecured loans are personal loans that are provided to you as an individual. As such they can be used for whatever you need the money for … any reason at all. Home improvements, debt consolidation, holiday, wedding etc are all ok and they can also be used for car or vehicle purchase and have the benefit of turning the purchaser into, in effect, a cash buyer and all the benefits that can bring.

Unsecured Loans To Your Door – Who Can Apply.

As explained earlier, an unsecured loan does not require any form of security or guarantee against the value of any of your property.

This makes an unsecured loan available to anyone, regardless of whether you are a private tenant, Local Authority tenant, home owner or if you live with friends or family.

Unsecured Loans To Your Door – The Cost.

These days very few people have a perfect credit history and as such there are many lenders of unsecured loans who accept applications from those with a poor or bad credit history, arrears, defaults, CCJs or if you’ve already had an application rejected.

The actual cost will therefore depend on such criteria as the size of loan, the lender and the credit status of the applicant. Rates can vary considerably so always shop around to find the best deal – don’t just accept the first quote you receive.You will be quoted an APR when you receive an offer from a lender, you will also be given a total repayable amount and a loan repayment schedule. This is determined by the lender and based on the loan amount borrowed, period of the loan and your individual personal circumstances.

Unsecured Loans – How To Repay.

Normally an unsecured loan can be repaid over a flexible term to suit the borrower – often anything between 12 and 60 months.

You will usually be required to hold a UK bank account and repayments will be transferred each month by direct debit although you will be able to select a convenient date.

Unsecured Loans – How To Apply.

Depends who you decide to apply to – if you decide to go for one of the high street banks or financial institutions the application can be made in branch and you will often get an instant decision and, if acceptable, be able to fill in the paperwork there and then meaning that the whole application can be handled in a single visit. If you decide to shop around there are hundreds of online lenders where the initial application is via an online form, you will often get an instant, in principal decision following which the paperwork will be posted to you to complete, sign and return – only then will your loan be transferred meaning that although it can be a fast process it normally takes a week or two to complete.

Unsecured Loans To Your Door – Alternatives.

If this unsecured loan is not what you’re looking for then, don’t worry there are plenty of other options available including doorstep loans or instalment loans. If you’re just looking for a little help short term then please visit our section on payday loans, instant loans or home collected loans.

You can read up about unsecured loansDoorstep Loans For Unemployed, plus lots of different options too at MoneyUnmuddled.co.uk