Sometimes you need loans but you do not want to offer any collateral or rather do not have collateral to pledge
. Unsecured loans would be a suitable solution for you're your needs. This from of credit does not demand any security.
These advances offer an amount ranging from 1000 to 25000 for a period of 1- 10 years. You do not have to pledge any security against the credit borrowed. Thus the lenders risk in dealing with you is not backed by any property. Therefore they carry high rates of interest.
This finance can be used for varied reasons such as to purchase a car, renovate your home, wedding expenses, educational expenses, to consolidate your debts and so on. There are no restrictions on the usage of these funds.
You can also avail these funds irrespective of whether you have a good credit history or a bad one. However if you have a bad credit score you need to prove your repaying ability to the lender to assure him of your credit worthiness.
To apply you need to fill the application form. The procedure is much quicker as compared to the secured advance as it does not involve realization of security. The lender will verify your details to ensure that you have submitted the right information.
You need to be a citizen of U.K
You should be above18 years of age.
You must have an active bank account.
You must be employed with a fixed income.
You can also apply for these funds though the online mode. All you need to do is fill an online application form. The procedure is less time consuming. You do not have to wait in long queues. Neither do you have to visit different lending institutes. Accessing the internet makes things really simple. You just have to explore the online market.