subject: Unsecured Personal Loans: A Quick Monetary Aid For Uk People [print this page] Unsecured personal loans are the short term loans and do not demand any collateral from the borrowers. Who do not have any thing to put as collateral like tenants and non homeowners can easily avail these mortgages without any hesitation? These people are also eligible for these mortgages.
Here are some eligibility criteria which are necessary to be fulfilled before applying for the finance:
Applicant must attain the age of 18 years or above;
Applicant must be a citizen of UK;
Applicant must have a valid bank account in UK bank;
Applicant is doing a regular job with a sound source of income.
These mortgages are free from any security as these are especially meant for the people like tenants and non homeowners. One of the best feature of these mortgages is that borrower is also free from pledging the security. This feature makes the finance risk free for the borrowers but then the rate of interest become high due to the absence of security. Unsecured personal loans are avail able to the people who are dreadful credit scores. These mortgages are ideal for those who really have income so that borrower can easily repay the amount. If necessary then he/she can extend the repayment term but then applicant has to pay the extra interest rate.
The amount that the applicant can get ranges from 1000 and 25000. Repayment term of these mortgages is from 6 months to 10 years. Borrower is free to spend the amount anywhere according to the needs and requirements such as home renovation, debt consolidation, room rent, examination fees, wedding, traveling, school fess and college fees, credit card dues, car repairing, for holidays, grocery bills, medical bills, hospital bills, etc. but under lawful way. It will be better that the individual can do the online research to get the deal. One can apply through online mode to get the cash from unsecured personal loans within 24 hours of application by providing essential details. Amount will directly credit into the applicant account after approval.
by: Nick Knight
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