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Personal loans for any purpose

Personal loans 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


If you have questions about personal loans then hopefully we provide an answer to it below. If you can't find the information you need then please contact us.

Personal Loans Questions & Answers

What's the difference between a personal loan and an unsecured loan?

Personal loans are the same thing as an unsecured loan. Personal loans are a form of unsecured credit. They do not require you to provide an asset (e.g. jewellery, car, house, etc) as collateral for the money you borrow. So, you don't put any assets at risk. Other forms of unsecured credit include bank overdrafts and credit cards. Personal loans differ because you borrow a fixed amount of money for a fixed period of time and make monthly repayments to gradually pay off your loan.

How do Personal Loans and Homeowner Loans differ?

Personal loans differ from homeowner loans in a number of significant ways:

  • Personal loans are unsecured loans / Homeowner loans use your house as security
    • this means for a homeowner loan you need to own your home
    • you don't have to own your home to get a personal loan
  • With a homeowner loan you can borrow larger sums of money (subject to various criteria). In principle you could borrow in excess of £250,000 whereas personal loans are limited to no more than £25,000 (subject to your  personal circumstances)
  • With a homeowner loan you can elect to repay your loan over a time frame as long as 25-30 years. Personal loans are more typically 7-10 years maximum.
How do I apply for a loan? Are there any restrictions?

Use our simple, safe and secure enquiry form to contact us about your loan requirements. We have access to a large panel of lenders who between them can offer a wide range of loan solutions.

There are relatively few restrictions about who can apply, but please keep the following in mind. You need to:

  • be aged 18+
  • be a UK resident
  • have a regular income
  • have a UK bank account (in most cases)

You do not need to have a perfect credit score and you do not need to own the home you live in. All lenders will want to ensure you can afford the loan repayments before agreeing to the loan.

If your credit history is particularly difficult then you might want to consider a guarantor loan - an unsecured loan of up to £10,000 where you do not need to be credit scored. Instead you provide a guarantor for your loan.

To explore all your loan options simply use our Find Loan tool - 4 simple questions that will narrow down your loan options for you.

What happens after I've applied? Am I credit checked?

Once we have received your enquiry our trusted partner will assess it against the panel of lenders and draw up a shortlist of those than might suit your needs. They will contact you to discuss these in more depth and ask a few more questions. They may do a "soft search" on your credit file - this has no impact on your credit score, but means they are able to tell you with more accuracy which lenders will lend to you in principle. No "footprint" is left by this search.

You have no obligation to proceed with any loan offer. If you decide to proceed with a lender they are likely to do a more detailed credit check and this will be visible to other lenders who view your credit file in the future. If you believe you have already been credit checked enough you might want to consider a guarantor loan (see elsewhere on this website).

How much can I borrow?

You can apply for up to £25,000. Different lenders will have different lending limits. Once you have told us how much you need we'll be able to tell you which lenders may be able to offer that amount.

How much will my loan cost?

The rate you can get will depend on the amount you want to borrow, your personal circumstances and the lenders who are available to you. The representative APR is in the box on the right hand side of this page.

You can estimate your monthly repayments by using our loan calculator. You can see how much your payments change by changing the loan value and the repayment period.

More information will about loan costs will become available to you by using our enquiry service to narrow down your loan options.

What is a representative APR?

The APR, or Annual Percentage Rate, tells you the interest rate you are paying for your loan including any other fees and charges. Unsecured loans are "priced" once a lender has judged the risk of lending to you. They do this by looking at your credit file. To enable lenders to provide guidance about the probable cost of their loans they provide a "Representative APR" accompanied by an example loan at that rate. This APR means 51% of accepted applicants have got that rate or lower.

So, if the Representative APR is 15% then 51% of applicants will have got a loan at 15% (or lower) and the other 49% will be paying more. People who were rejected by lender outright aren't included, of course.

Are there any fees for arranging my loan?

Our enquiry service is completely free. Any company who charges upfront fees should be avoided as there is no need for this. If you take out a loan we will receive a commission from the lender.

If you receive a phone call from anyone claiming to be from Solution Loans and requesting an upfront payment (e.g. via UKash) put the phone down! We do not run a call centre and we do not charge any fees. See our loan scam warning.

How long can I borrow the money for?

You can typically borrow for any period between 1 and 7-10 years. We would always encourage you to borrow for as short a time as you can. While this may mean making larger monthly repayments (subject to your budget) it does mean you'll save money in the long run because you will be minimising interest costs.

Most lenders will allow you to make "over payments" so that you can pay off the loan more quickly than you originally intended - again this will lower your interest costs. Check before you sign the contract to see that your potential lender will allow such payments.

Can I use the personal loan for any purpose?

Yes. It's that simple!

Can I take out a joint loan?

Yes. This should not be a problem. Keep in mind that having a loan in joint names exposes you to the risk of having to repay the entire amount outstanding if the other party won't or can't pay what they should. When signing a credit agreement in joint names you do not need to be married or in a civil partnership.

You should avoid applying jointly with anyone who has a poor credit rating. Once you are part of a joint agreement your credit file will be linked to theirs. This means in the future if you seek credit on your own the other person's credit file will influence a lender's decision about you. Before entering into in any joint agreement you should both check your own credit ratings.

I don't own my home. Can I still get a personal loan?

Yes. Whether you own your home or not is irrelevant for a personal loan as the loan is not secured on the property. So, we welcome loan enquiries from:

  • council tenants
  • social housing tenants
  • private tenants
  • those living with parents
  • those living with family
  • those living with friends
  • those in the military
  • home owners
  • and anyone else resident in the UK aged 18+
I've had financial problems in the past. Can I still get a personal loan?

Past financial problems which are recorded in your credit file will affect your credit rating. This may deter some lenders but we have other lenders who specialise in helping people in this situation. We also have access to numerous guarantor loans which are a form of personal loan designed with bad credit in mind.

Keep in mind that although a less than perfect credit file is not necessarily a problem you will need to prove you can afford to make the monthly repayments.

What should I do if I get into financial difficulties?

Don't stick your head in the sand! It doesn't make the problem go away. The sooner you confront it the better. What you certainly need to do is talk to your lender. It is in their own interest to work out a way for you to repay the loan. They won't write the debt off so are likely to come up with a new payment plan that you can afford. Their may be implications for your credit file but you will minimise them by working with the lender to sort out the problem.

Solution Loans have asked me for money upfront. Is this correct?

No! We don't ever charge fees for our service. If you receive a call from anyone claiming to be from Solution Loans then it is a scam call. We don't operate any call centres and we don't make outbound calls.

We recommend you record as much information as possible about the caller and where they are calling from. Please see our Loan Scam page.

Stay safe from loan scams

All About Personal Loans

Representative Example

Loan Amount


Monthly Repayment


Loan Term

48 mnths

Total Repayment


Representative APR


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