Unsecured Loans

Unsecured Loans as the name suggests are not secured on property and they are therefore available to everyone. Most small loans such as payday loans and doorstep loans are unsecured, but the term unsecured loan is usually used for larger loans of £1000 or more.

Because unsecured loans are a risky form of lending, most lenders require you to have a very good credit record before they will consider lending to you. In addition interest rates tend to be higher on unsecured loans in order to offset the risk the lender faces. If you own property then it may be better to try for a secured loan as the interest rates are lower and lenders are more willing to consider secured loans. Of course you would need sufficient equity in your property for a secured loan.

Unsecured Loans With No Credit Checks - up to £5000
This is a new service from Solution Lending which is ideal if you need a larger sum of money - up to £5000 but would fail a credit check due to previous credit problems, CCJs, IVAs or previous bankruptcy. You do however need to provide a guarantor who is willing to take over payments should you be unable to meet the repayments. This can be a relative or friend, they will need to be under 65 with a good credit history. Loans can be completed in as little as 72 hours.
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Alternatively
If you own a property with equity a remortgage may be a cheaper and better option: Easy Remortgages specialise in helping people in all circumstances get the credit they deserve. They have access to a large panel of lenders for your best chance of getting a mortgage remortgage and secured loan.