Unsecured loans are not usually granted for an amount higher than £25,000.
They are provided without requiring you to provide any security (car or home etc) and are usually offered with a fairly high APR or interest rate.
This is due to the lender taking more risk with lending the money. The rates can vary subject to your personal status, if you have an excellent repayment history with other credit companies you may find it possible to obtain an acceptable rate unsecured loan.
However, if you have a bad credit history and have been refused loans or credit, you may struggle to find an unsecured loan rate that is actually worth taking.
Be careful in your selection of unsecured lenders.
If you need advice regarding unsecured loans or personal debts please contact our debt helpline in confidence using;
0800 118 2345