Unsecured Loans - The Lender Takes All The Risk

    Unsecured is the most popular type of loan. It is the fastest loan on the Quick Loans site. The application is easy to complete and with a instant decision.

    Borrowing unsecured money means that a lender takes only your word that you will repay the money. This means that the loans can be processed quickly and with little hassle.

    Representative Example: Amount of credit: £1500 for 11 months at £169.69 per month. Total repayment of £1866.59. Interest: £366.59 Interest rate: 46% pa (fixed). 112.5% RAPR. APR rates range from 22.3% APR to 112.5% Max APR. Any APR rate offered will be related to your circumstances. For help, go to moneyadviceservice.org.uk
    Unsecured means that your promise is good enough

    You, Your Word, Your Loan

    It’s all in the name. An unsecured loan is simply a loan type that can be obtained without the need for an applicant to put anything down in the form of collateral – i.e. a house, or a car.

    Unsecured loans are a popular option, and it isn’t hard to see why. The main lure is the fact that there is no risk to the borrower. You, the borrower, do not need to put any asset in place in the form of collateral. Ultimately reduces any risk should repayments become an issue. You should be aware, however, that due to the fact that there is little risk to the borrower, it ultimately means there is more risk to a lender – which is why you will find that interest rates are higher on unsecured loans than on other loan options.

    Advantages of Unsecured Borrowing

    In terms of unsecured loan advantages, there are plenty. We’ve already documented the fact that there is little risk to the borrower, but there is also the added bonus that unsecured loans are quick and easy to apply for. There is little paperwork with this finance option, meaning people that apply for an unsecured loan will have cash in their account extremely quickly after being approved. This is a godsend for people that have entered financial difficulty and need money quickly in order to avoid going into debt.

    The availability of unsecured loans is also wide-ranging. So long as you are over the age of eighteen, pretty much anyone can apply for an unsecured loan.

    In terms of obtaining finance, there is nothing better out there. It is an inclusive loan option that is easy to get, has minimal risk to the borrower and appeals to people from all walks of life.

    There are two real downsides, one is that unsecured loan amounts tend to be smaller in value (£10,000 on this site). The second is the cost, it's more expensive to borrow without security. This is because the risk is higher for the lender. For people wanting to borrow a significant sum of money, the unsecured loan route isn’t for them.

    The majority of our customers, however, are just like you. They want the ability to borrow small lumps of cash whenever they need to bolster their account. They also want to do this promptly and with very little fuss.

    That’s precisely what we provide. Our unsecured loans service is popular with so many people because the whole process is pure, straight forward, transparent and, more importantly, is extremely easy to obtain the cash needed.

    You really should look no further than us for all your unsecured loan needs – we’ve got everything covered.

    Unsecured means that your promise is good enough

    Quick Unsecured Loan Questions

    Can I have an unsecured loan if I have bad credit?

    We look at every individual case on merit, so it would be difficult to give a yes or no answer to this question. Lenders will ask a few details and base their decision on the outcomes of the responses that you give. We do not turn people aware that have bad credit, and there are many people that have been successful in loan applications, despite having bad credit.

    How long will I have to wait to find out whether my unsecured application has been approved?

    We pride ourselves on delivering a speedy and swift service. It has been known for people to receive decisions instantly. The majority of people, however, will only be expected to wait around a couple of minutes before receiving their decision.

    I have been approved, how long will it take for the money to be in my account?

    Because you've selected the unsecured option, there is no need for valuations or security to be handed over. Your money should be in your account within fifteen minutes’ or so. We not only strive to ensure all applicants receive a decision within minutes, we also aim to give applicants the cash they need within this tight timeframe. If you have been approved, and the cash hasn’t arrived in your account within the half hour mark, please do not hesitate to get in touch.

    © 2021 QuickLoans.co.uk All Rights Reserved. Authorised and regulated by the Financial Conduct Authority, Permissions Reference Number 763132