Unsecured Personal Loans
Looking to borrow money to pay for a big or unexpected expense?
An unsecured personal loan could be exactly the type of finance you’ve been looking for.
Get a cash injection with an unsecured personal loan.
An unsecured personal loan lets you borrow money without using an asset as security (or collateral).
However, this makes the deal riskier for the lender. So to compensate for this increased risk, lenders typically charge higher rates for unsecured personal loans than they do for secured personal loans.
That said, unsecured personal loans come with lots of benefits too, such as:
- No risk to your personal property – as the loan isn’t tied to an asset
- Can be used to fund practically anything you can think of – from weddings, medical bills, school fees and more
- A simpler and faster application process – when compared to a secured loan
We apply our extensive knowledge to find a solution that is right for you and guide you throughout the loan application process.
How do they work?
unsecured personal loans often come with stricter eligibility requirements. So it can be trickier to qualify for an unsecured personal loan if you have a poor credit history.
That’s not to say it’s impossible. An expert Finance Broker knows the lenders that specialise in bad credit personal loans. However, you may have to pay a higher interest rate or higher fees for the privilege.
This brings us to a very important point. It’s crucial to figure out whether you’re actually eligible for an unsecured personal loan before you apply. That’s because rejections can damage your credit score, making it harder for you to be approved for credit in the future.