Unsecured Loans of up to £25,000
You can borrow an unsecured loan of anything between £1,000 and £25,000 over a 18 to 36 month period. Apply online and you could get funds in 24 hours.
An unsecured loan lets you to borrow money without having to use valuable assets as collateral. These types of loans are typically based on your credit-worthy details, such as a good credit score and regular, stable income. However, these will vary depending on the lender and the loan type.
Forces Compare work with a variety of unsecured loan providers, who offer loans from £1,000 to £25,000.
We accommodate not only for those who serve, but also for veterans and civilians, helping you find the best loan to fit your unique circumstances.
Representative Example: If you borrow £550 over 6 months at a flat rate of 207.6% per annum (fixed) with a representative 1013.3% APR you will make 6 monthly payments of £186.82, repaying £1120.90 in total. Loan term lengths from 1 to 60 months.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Why Would I Need to Borrow an Unsecured Loan?
People may need to borrow an unsecured loan for all sorts of reasons. You can use an unsecured loan to pay for various different things, including home improvements, weddings, a new car or to cover monthly bills.
With Forces Compare, you can borrow an unsecured loan from £1,000 to £25,000 to be repaid over an 18 to 36 month period.
We understand that people need finance for all sorts of reasons, which is why we work with a panel of select lenders to accommodate your needs.
What Are the Benefits of Unsecured Loans?
There are many benefits to taking out an unsecured loan with Forces Compare, including the following:
- No risk of losing valuable assets (for example your home).
- Bad credit considered.
- No application fees.
- Provisional quotes in under 2 minutes.
- Finds the best financial solutions for those in the armed forces.
How to Apply for an Unsecured Loan With Forces Compare
You can apply for an unsecured loan through Forces Compare. Simply click the button below and fill in our online application.
When applying for a loan with our lenders, you’ll need to provide a few details. These include your name, date of birth, address and monthly income.
You’ll also need to provide us with your bank details and the loan amount you are applying for.
There are no charges for using our site, and you could get a provisional quote in under 2 minutes.
What Are the Eligibility Criteria for an Unsecured Loan?
All borrowers will have to meet a certain criteria to be eligible for a loan.
In order to be eligible for an unsecured loan with our lenders, borrowers will typically have to meet the following criteria:
- Be over the age of 18.
- Be a full-time UK resident.
- Be able to afford monthly repayments on the loan.
- Be under employment.
- Have a regular income.
Other conditions might also apply, however these will depend on the lender and the loan you are applying for. Some lenders will not accept those who have declared bankruptcy, have bad credit or who have recent CCJs or defaults.
These are common requirements for unsecured loans, however there are products available that accept adverse financial histories.
How Are Unsecured Loans Different to Secured Loans?
Unsecured loans are completely different to secured loans. Secured loans require a borrower to secure the loan with a valuable asset.
This asset can be any number of things subject to the lender’s requirements and can include:
- A house.
- A car.
- Valuable art.
Once chosen and approved by the lender, the valuable asset will then be used as collateral, making up the remainder of any repayments if the borrower defaults.
You can borrow a secured loan of anything between £10,000 to £250,000 with Forces Compare.
An unsecured loan in comparison is a type of loan where the borrower is not required to provide a valuable asset to secure the loan.
With this type of finance, the lender will look for assurance that the borrower will make repayments in other aspects of the application, such as a good history of borrowing or whether the borrower has a regular income.