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An introduction to unsecured loans

When compared with secured borrowing an unsecured loan is quite restricted. The sum borrowed is limited to £25,000, repayment terms are short and loans are not approved for risky or business purposes. When selecting your unsecured loan provider, it is important to keep in mind that lending is a business, thus, a lender wants to make money from you.

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A guide to unsecured loans

Tuesday, November 27th, 2007 Personal loans are available on either a secured or an unsecured basis. If a borrower does not have an asset to act as collateral against the value of a secured loan they may apply for an unsecured loan. The features of an individual loan package will depend on a number of factors. These include an applicant’s credit score, the amount borrowed, the repayment term and its provider.