Best Unsecured Personal Loan
Want a personal loan UK comparison?
Unsecured personal loans are those which do not require any collateral. Therefore, you do not need to risk any of your assets such as your home, in order to get a loan. However, because of this unsecured loans are quite difficult to obtain, unless you have a very good credit history. Although, there are many lenders who will provide you with unsecured loans, the amount you can borrow would depend on how much the lender is willing to give. The rate of interest on this kind of loan can be slightly higher than the secured loans. It will again depend on the loan amount, your current financial status, your employment status, repayment plan, etc. Although you can use the loan money for any purpose, some lenders might restrict the use for a specific purpose.
There are a number of lenders who offer unsecured loans in the UK. You must evaluate all the deals available, then choose the best to meet your requirements and not go for the first deal you are offered or settle for very high interest rates. Some of the competitive players in the market include:- Masterloan: Offers a special online rate of typical 6.3% APR, where you can borrow upto £15,000.
- Northern Rock: Here you can borrow anywhere between £1000-£25,000, at a low rate of 5.8% typical APR.
- The Co-operative Bank: Allows you to use the loan amount for any of your financial purposes, offers a loan up to £25,000 pounds, at a typical 6.1% APR.
- Money Back Bank: Allows you to borrow a sum of £1000-£25,000 over a maximum term of 7 years. Also if you remove the loan protection from your unsecured loan plan, you can earn up to £350 moneyback.
- Halifax Unsecured Loans: Offers an online rate of typical 6.4% APR on loans above £7000.
You can spend a great deal of time researching the various loan companies online and still end up as confused as when you stated looking. Moneyeverything.com has already done the hard work and has a complete listing of the most reputable and competitive lenders across UK. You can easily and quickly browse through the various deals on offer and do a comparative analysis to find the best options for you. Some of the lenders listed include, Alliance & Leicester, Virgin Loans, Freedom Finance, Norwich Union, Easy Loans, Dial4aloan amongst others.