Unsecured loans
An unsecured loan is a loan where the borrower does not need to provide any asset to the lender as collateral. Also known as a personal loan, unsecured loans are judged on the borrowers’ personal credit history and are supplied on the condition that the borrower can repay the loan.
| Product Name |
Price (excl. tax) |
| Unsecured Loans |
On Application |
Why choose Smartlandlord®?
- Quick and easy to apply
- Fast decision
- Helpful and professional service
Key Features:
- Loans from £500 to £25,000
- Loan terms from 1 year to 7 years
- Available for self-employed borrowers
- Maximum borrowing age of 75
- Minimum net income £450 per calendar month
Other Information:
- Smartlandlord® offers this service through through Broker-Support .
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Q. How can I apply for a personal loan?
A. You can apply for an unsecured loan by filling out your details on the online form. You will then be contacted by one of our advisers within 24 hours to talk you through the application process.
Q. Will the loan be secured against my house?
A. No. An Unsecured Loan is not connected to any specific piece of property.
Q. If it's a joint application, do we both need to sign the credit agreement?
A. Yes. Both people need to sign the credit agreement.
Q. Can I have a loan for any purpose?
A. Yes. An Unsecured Loan can be used for any personal purpose.
Q. Who can apply?
A. Both homeowners and tenants*, who are 18 years or over, permanent UK residents (including in a few select cases Northern Ireland and Isle of Man residents) and who hold a bank or building society account and earn £450 per calendar month.
Q. Can I repay my loan early?
A. Yes. Paying off an Unsecured Loan early is permitted but you should be aware that early repayment could sometimes incur penalty payments.
Q. What are your typical interest rates?
A. Interest rates vary between clients and are based on each client's credit history and their ability to repay their loan.
*In some cases it may not be available for tenants to apply.
Dos and Don'ts
Do:
- Compare two or three different providers to be sure that the loan you are offered is the most competitive
- Consider a Secured Loan if you have poor credit history or if your application for an Unsecured Loan has been unsuccessful
- Do keep a record of your regular income
Don't:
- Hide repayment problems from your lender
- Apply in too many places as each credit check will adversely impact your credit history
