What is an unsecured loan?
A fast unsecured loan is a type of loan that isn’t secured against a property or high value possession, such as a car, in order to cover against missed repayments. Unsecured loans are typically granted based on an applicant’s credit score and affordability, meaning a good credit rating and solid financial standing can certainly help to increase the chances of being approved for this type of credit.
Is this the right type of loan for you?
When you miss repayments on a secured loan, there’s an increased danger of losing whatever the loan is secured against, such as your family home. If you miss payments on an unsecured loan, there are still risks and you will be personally responsible, as opposed to having an asset seized.
With the majority of unsecured loans late payment or non-payment may result in additional fees such as court fees, or even result in a County Court Judgement (CCJ), all of which will have a negative impact on your credit rating.
An unsecured loan is best when you are looking to borrow a small amount. Loans over £25,000 typically need to be secured against something high value, such as a house or vehicle, to help lenders manage the risk of losing a large loan amount due to missed repayments. However, smaller loans offered by Simple Fast Loans do not need to be secured against anything. Our loans typically do not exceed £1,000 but we can provide loans of up to £5,000.
Remember that every lender assess loan applications differently, so if you have been rejected by a different lender, you may still be eligible for a Simple Fast Loan.
Can I apply for a fast unsecured loan from Simple Fast Loans?
The simple answer is yes! We offer our clients unsecured same day cash loans of £250 – £5000. Our flexible personal loan options are designed with an understanding of exactly what matters to our customers.
We know obtaining a loan with a CCJ or bad credit can be hard but here at Simple Fast Loans we consider all credit types. If you need to access money quickly then we are here to help provide you with a straightforward, suitable and same day financial solution.
Use our quick and easy application form to see if you’re eligible for a Personal Loan.