Signature loans UK is also known as character loans
. You have to place your asset as collateral to get the approval. This form of credit is a secured loan, where one needs to pledge important collateral. Hence, they come under the category of secured loans.
Through signature loans UK you will get an amount ranging from 500 to 100000 for a period of 1- 25 years. You can also apply for this finance even if you have a bad credit. You can use the funds for any purpose. There are no restrictions on the usage of these funds. You can use it for a down payment for large purchases or for making improvements of home and car repairs. It is also a great alternative to the high interest credit cards and it is easier to manage.
As compared to good creditors, the bad creditors have to pay a higher rate of interest. Since, you do place a security this finance carries a low rate of interest as the lenders do not risk in dealing with you.
Eligibility criteria:
You must be 18 years of age
You should be a citizen of UK
You need have a fixed income and job.
You must have a bank account.
You should make sure that you do not fail to pay your previous loan in order to qualify for this credit since it will raise the lenders confidence on your repaying ability. You must have a steady job with regular income. You must make repayments on time to raise your credit score.
You can also apply through the online mode. You need to fill in an online application form giving all the necessary details. This will provide convenient funds. These lenders are available at all times of the day, even during weekends, holidays, or any kind of emergency. Thus, you have a wide range of options which will help you compare the interest rates.