A Guide to UK Loans

Applying for an online loan in the UK is relatively simple through most of the bank websites - a lot of these websites don't offer real times quotes allowing comparing several at once. You will be able to work out how much the repayments are each month, APRs and total repayment sums instantly.

UK loans can be split into two main sorts: secured loans and unsecured loans.

Secured Loan	Unsecured Loan
Requires collateral, usually your home, which will be at risk if you fail to make repayments.	Requires that the credit rating and financial position of the applicant is such that no collateral is required.
Can often be used for any purpose.	The lender might restrict the loan to explicitly exclude certain purposes (e.g. to start a business).
Loan amount could be limited by the value of your collateral (e.g. the value of your home will limit the amount of the loan you can secure on it).	Most lenders limit unsecured loans to less than £15,000 or £25,000.
Is often cheaper than an unsecured loan.

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