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.
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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 different 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. We work with a whole host of different lenders to help you find the best loan to fit your unique circumstances.
Why Would You 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 over 40 lenders to help us accommodate for a range of different loaning 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 (e.g. 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
We will also match applicants to the lenders most likely to approve them, increasing the chances of success.
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 Is the Eligibility Criteria for an Unsecured Loan?
All borrowers will have to meet a certain criteria to be eligible for a loan. This can vary from lenders and the loan product being applied for.
However, 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 with bad credit, or those with recent CCJs, defaults or bankruptcy.
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?
As the name suggests, 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.