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What are unsecured loans?

An unsecured loan is a sum of money you borrow from a financial institution to fund your big expenses. Also popular as personal loans in the UK, these loans do not require you to put collateral regardless of your credit rating. It means you do not need to fear of losing a valuable asset in case you fall behind repayments.

Unsecured Loans

You will pay back the borrowed sum with interest in fixed monthly instalments over a set period. To qualify for unsecured loans, you will need the following things:

What are the pros and cons of unsecured loans?

There are two sides to every coin. Likewise, unsecured personal loans have their benefits and drawbacks. You mustn't throw caution to the wind while applying for these loans.


  • They are not backed by security, so there is no risk of losing your asset.
  • They come with fixed interest rates, so you know how much money you are to pay every month. You can easily prepare a budget accordingly.
  • APRs are lower than other short-term loans like payday loans, bad credit loans, unemployed loans etc.


  • APRs are competitive, yet they are higher than those of secured personal loans.
  • If you make a default, you will end up with a CCJ (County Court Judgment)
  • Monthly payments can be larger.

Why should we apply for unsecured loans?

Before you borrow money, you must analyse that the type of loan suits your financial condition and needs. Unsecured loans in the UK can help you find those expenses that you cannot pay upfront. Here are the top reasons why you will likely need these loans:

How can i get unsecured loans?

Qualifying for unsecured loans is far more comfortable now. You know very well that you need to fill up the online application form, but there are a couple of other things to do as well:

Note: Regardless of your credit history, the maximum amount you can borrow is £50,000. Quickloanslender offers unsecured loans at lower interest rates than the market.

What is the difference between unsecured and secured loans?

Deciding on a secured loan and unsecured loan is not easy at all. The former is subject to losing your asset in case of a default, and the latter is subject to higher interest rates than secured loans. It seems like you are stuck between the devil and the deep blue sea. Now it does not need to be confusing at all because here you will get a detailed insight into it to make a better decision.

Secured Loans

  • They are subject to collateral.
  • Interest rates are lower, but there is a risk of losing asset in case of a default.
  • You can borrow a large sum of money depending on the value of the security you turn in.
  • These loans offer a longer repayment term, and hence the total cost of the loan can be a bit higher.

Unsecured Loans

  • You do not put security to take out these loans
  • Interest rates are slightly higher, but there is nothing to worry about.
  • You cannot borrow a large amount, yet Quickloanslender will allow you to borrow as maximum as £50,000 subject to your affordability.
  • They relatively come with a shorter repayment term, and hence, you do not end up paying huge amount in total.

Can i apply for a joint unsecured loan?

Yes, but remember that your co-applicant must have a good credit history too. In case one of you has a poor credit report, make sure that you have a have income to offset.

Some lenders do offer unsecured joint loans for bad credit but remember that they can be a bit expensive. You can qualify for these loans at Quickloanslender too, and we assure you that you will get them at lower interest rates than the market rate.

What are the alternatives for unsecured loans?

There are some circumstances when you may fail to qualify for unsecured loans, but you can consider the following alternatives:

Can i get unsecured loans if i have bad credit and no guarantor?

Yes, you can apply for unsecured loans for bad credit, but interest rates will slightly be higher than those for good credit rating. However, you can still get competitive interest rates based on your timely recent repayments.

To qualify for these loans with no guarantor, you will have to meet the following condition:

Does Quickloanslender offer short-term unsecured loans only?

Financial needs and desires come in different forms and lengths. If one person has a small financial need, then another may have a longer financial purpose to achieve. Our company wants to contribute to both scenarios. Therefore, we offer more than only short-term unsecured loans.

Other direct lenders in the UK usually offer small unsecured loans to the applicants. They may worry about the risks involved in lending a substantial amount. On the other hand, we are ready to take that risk and offer long-term unsecured loan as well.

You can use these loans for more significant purchases like home buying, mortgages, new car purchases, etc. You can utilise such long term loans to fill the funding gap that occurred during those extensive expenses.

With us, you will get the following features on these loans with unsecured nature.


Short-Term Unsecured Loans

Long-Term Unsecured Loans

Loan Amount Borrow up to £10000 Borrow Up to £50000
Loan Term 12 - 36 Months 36 - 84 Months
Loan Repayment Modes Weekly or Monthly Monthly
Ideal Loan Purposes Financial emergencies or small expenses Larger financial goals or purchases
Guarantor Not Required Required
Income Status Full-time or Part-time Monthly Income Full-Time Income
Credit Score Loans for Any Credit Score Good Credit is preferred, but Bad credit people can also apply

Why are unsecured loans suitable for business funding?

When you are running a small business or have just located a start-up business, you may require external funding support at some point in time. Still, you hesitate to put anything as loan collateral, as your returns are not yet fixed. As an alternative, you can approach our company to get unsecured loans with bad credit and to fulfil your business needs from today itself.

Unsecured loans are an ideal option to fund your business expenses. Some of the most common purposes why people take out these loans are:

  • to increase working capital
  • to buy equipment
  • to finance payroll

Unsecured business loans can help you take out a large amount of money for your business without putting in security. However, you may not get the large amount you get after placing the collateral. Still, these loans are enough to manage emergencies without any hassle.

Below are some of the advantages that we bring with such small business loans:-

  • You do not need to submit a business progress plan for coming years, unlike in case of a business loan
  • You can qualify for the loan even if you are a start-up
  • Repayments are flexible and easy to manage
  • There will always be a chance of reviving your credit score
  • Submit online application only with minimum paperwork to follow

There is no need to sacrifice with your business needs. Instead, make the full use of our personalised support and grow your business.

Why customer like our services for unsecured loans

For the last few years, QuickLoansLender has become one of the most preferred to get unsecured loans from direct lenders for the last few years. The primary reason is that we always focus on reviving the whole financial status of our applicants. Providing loans only is not our motive; instead, we give you complete financial support.

It is why we have been able to serve the financial purposes of many people.

Here is why our customers like our services:

  • Our interest rates are lower than the market even for bad credit borrowers
  • We are flexible with individuals’ circumstances.
  • We do not charge a prepayment penalty.
Our Customers Like Our Loans Services

Do you want to test our financial assistance? You are welcome to do so. Apply for unsecured loans once, and you will surely receive what you have expected from us.


Can I get an unsecured loan with no credit check?

You can quickly get unsecured no credit check loans with us. We offer every loan with a soft credit check approach and sometimes no credit check too. However, we provide unsecured loans with no credit perusal on specific conditions like:-

  • You are borrowing an affordable amount
  • You are applying for loans more than one time
  • You are recovering well from your recent financial performance

How does an unsecured loan work?

Unsecured loans work at QuickLoansLender only through an online format. You need to fill out an online form on our website and submit it. Once we receive your application, we quickly review it and offer you a loan quote. Provide your consent to the quote, and we will straightway approve your application. At last, you will get the desired funds on the same day.

What is the best rate for unsecured loans?

The best rate for unsecured loans is what goes with the financial capacity of the applicant. Lenders must ensure that borrowers can manage the interest rates from their monthly income, not from savings. It means an ideal interest rate is only one that is affordable to everyone.

Will my credit score increase if I pay off the unsecured loan on time?

Yes, definitely. It is why paying off the unsecured loan on time is necessary. It is ideal for those having a bad credit score or no credit history. They can restart or start their credit profile on a positive note by repaying the loan according to the given schedule.

What does that phrase APR mean?

APR means Annual Percentage Rate (APR). It refers to the process where the total cost of borrowing money for a year. It involves every cost related to the particular loan, such as interest rates, annual fee, administrative fees and many more. At QuickLoansLender, we vouch for providing only competitive APR that goes well to the financial capacity of the borrower.

What is the criterion to get an unsecured loan?

You have to follow simple eligibility criteria to get an unsecured loan. These include:-

  • Your age should be between 18 years and 70 years
  • You must be a permanent resident of the UK or living on a valid visa for the last 4 years
  • There must be an active bank account in the UK
  • You should be earning full-time income (part-time earning is also acceptable)