• How Much Can I Borrow?
• How Much: Secured Loan?
• How Much: Unsecured Loan?
• How Much: Remortgage?
• How Much: Payday Loan?
• How Much: First Time Buyer?

Loan Calculator
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Loan Term:	1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years 11 years 12 years 13 years 14 years 15 years 16 years 17 years 18 years 19 years 20 years 21 years 22 years 23 years 24 years 25 years
Interest Rate (APR):	5% 5.2% 5.4% 5.6% 5.8% 6% 6.2% 6.4% 6.6% 6.8% 7% 7.2% 7.4% 7.6% 7.8% 8% 8.2% 8.4% 8.6% 8.8% 9% 9.2% 9.4% 9.6% 9.8% 10% 10.2% 10.4% 10.6% 10.8% 11% 11.2% 11.4% 11.6% 11.8% 12% 12.2% 12.4% 12.6% 12.8% 13% 13.2% 13.4% 13.6% 13.8% 14% 14.2% 14.4% 14.6% 14.8% 15%
Monthly Payment:

How Much Can I Borrow With an Unsecured Loan?

Unsecured loans are available to tenants and those people still living at home with family. Even homeowners can apply for an unsecured loan if they don't want to use their property to secure a loan. With any unsecured loan application, the lender will check your credit history, residential history and employment history to determine your suitability for a loan.

What is an unsecured loan?

A loan that is unsecured means you can borrow money without the need to provide any collateral to secure it. This makes extra finance available to anyone and everyone. You do not need to be a homeowner in order to get this type of loan.

How much can I borrow with an unsecured loan?

Generally you can borrow from £1000 up to £25,000 but it does depend on your personal circumstances as to how much you want, and how much the lender will offer you. Some lenders can offer as little as £500 and up to a maximum of £50,000 if you fit their criteria. Obviously the loan companies have to make sure you can afford to repay the loan without stretching yourself each month. So it is in yours and their best interests to not borrow more than you can reasonably afford. Likewise it is essential to make sure you provide them with accurate information to determine what loan they can offer you.

What can I use an unsecured loan for?

You can apply for an unsecured loan for any reason. Common loan purposes include consolidating your existing debts, any type of home improvements or repairs, buying a used or new car. Many people even get a loan out to pay for a holiday, finance their wedding day, get a deposit for a new house or even a second holiday home. In fact it's not uncommon to get a loan to cover planned or unexpected medical expenses such as dental bills or cosmetic surgery. It really is up to you what you spend the money on.

How long will it take to get an unsecured loan?

Unsecured loans are much quicker to apply for and be approved, mainly because there is less paperwork involved than with a secured loan, mortgage or re-mortgage. If you apply online for an unsecured loan quote, a loans representative will be in touch with you very quickly to discuss your needs. You could receive and offer in principal there and then.

If you are accepted, the loan paperwork will be sent out to you to read and sign, providing you are happy with the details, simply post back the completed forms and you could have the money in your account within a week of application. In some cases it can take a little longer, but rarely does it take more than 2 weeks to finalise the loan.

How long will it take to repay my unsecured loan?

Now this depends on how much you borrow, what the interest rate is and how long your repayment period is. If you borrow £5000 as a loan for debt consolidation at a typical interest rate of 7.9%, you may chose to pay it back over 3 years. You will pay £156.45 each month for the next 3 years. The total amount you will pay back over the lifetime of the loan will be £5632.25. However, if you feel you cannot afford the monthly repayments you can choose to repay it over 5 years at £101.14 per month. The difference will be the total amount repayable increases to £6,068.57, however your monthly repayments could be more affordable. You can even repay unsecured loans over 10 years. This is useful for those borrowing larger amounts of money.

In brief:

• You can usually borrow between £1000 and £25,000 with an unsecured loan.
• Repayment terms are normally between 1 and 10 years.
• Anyone can apply for an unsecured loan, you do not have to be a homeowner to be approved.
• The length of time between applying and getting your funds can be as little as one week.
• Interest rates will typically be a bit higher than those offered on secured loans.