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Personal loans for any purpose

Unsecured loans of up to £25,000 for any purpose

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Personal Loans

  • Loans up to £25,000
  • Tenants & Homeowners
  • Use for any purpose
  • Less than perfect credit
  • Free enquiry service

Unsecured Loans UK

More and more people are turning to unsecured loans in the UK to borrow up to £25,000 for up to 10 years From non-homeowners to those who don’t have a perfect credit history, the UK’s personal loans market offers a flexible and versatile way to borrow money on terms that can be tailored to your needs. Some of the people who have successfully used unsecured loans in the UK include:

  • Tenants, both long and short term
  • Homeowners
  • Anyone who has a chequered credit history
  • Individuals looking to consolidate debts

Unsecured loans are available to UK residents who pass basic affordability tests – all this means is that you can afford to make the repayments on the loan, as well as covering your other monthly outgoings. It’s simple to work out whether this is you - just look at how much room there is in your budget each month and bear in mind:

  • the impact that making monthly repayments will have on your monthly outgoings, and
  • how long you want to owe the money for.

Remember that the longer you borrow the money, for the more interest you will pay on the amount borrowed. However, the longer the repayment period you choose, the lower the monthly repayments will be. The choice between borrowing long term for smaller, easier to manage payments, or short term to pay less interest is up to you.

You can get a really good idea of what the impact of the amount and repayment terms you choose will be – on both the monthly payments and how much you will pay overall – with our flexible loan calculator. This clever tool shows you how to change the values that you put into the calculator to see both perspectives so you know, in advance, how to manage the loan.

It’s important to make sure that you can afford the repayments on a monthly basis as otherwise you could get into trouble with your finances.

How does it work?

Unsecured loans from UK finance providers are easy to arrange via the pool of trusted lenders we use. There are no up front fees to consider, as making the initial enquiry is completely free – that means you can see straight away which lenders can lend to you and what options you have. The process is all completed online so it’s fast too – one of the most convenient forms of finance you’ll find.

  • You can borrow the amount that works for you, from £1,000 up to £25,000.
  • Your repayment term is flexible too, from one year up to 10 years.
  • Use your unsecured loan for whatever purpose you need – there are no rules about the purpose of the loan.
  • Unsecured loans mean that you don’t have to have an asset to secure the loan against - as long as you can afford to repay then you can apply to borrow.

There are a few things to bear in mind too:

  • Choose a loan amount that is only what you need to borrow so that you don’t overstretch yourself.
  • Check your affordability to make sure you can cover the repayments easily.
  • Pay off the loan quickly so that you pay less interest – repay what you borrow early if you can.
  • Do some research into rate bands - you might find that borrowing slightly more can lower your overall costs.

Our panel of lenders might carry out a ‘soft’ search against your credit file but this won’t have any impact on your credit score and no footprint will be left by this search so the initial enquiry really is hassle-free.

What about credit that isn’t perfect?

In the UK unsecured loans are available to anyone who has a slightly chequered credit history too – the wide pool of lenders that we work with significantly raises the odds of being able to find someone who can offer you the finance that you’re looking for. As long as you have a reliable and regular income and you can afford to make the repayments then there’s a very good chance that you’ll be able to borrow – it’s not as difficult to obtain credit now as it used to be if your credit history isn’t golden.

Plus, there is also the option of guarantor loans – borrow up to £12,000 as long as you have someone who is willing to guarantee your borrowing. Your guarantor doesn’t need to be a homeowner these days and it’s much easier apply for a guarantor loan than it used to be – there’s more information on this available elsewhere on our site.

 

All About Personal Loans

Representative Example

Loan Amount

£9000

Monthly Repayment

£246.84

Loan Term

48 mnths

Total Repayment

£11,848.42

Representative APR

14.2%

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When it comes to getting you your personal loan our online service is second to none. In fact Solution-Loans.co.uk has scored 4.7 out of 5 based on 325 ratings & 47 user reviews for its personal loans service.

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