Unsecured loans can be used for any purpose and are made to persons who do not have security to offer to the lender. This means that the rates are usually higher than those charged for a secured loan. The lending source will normally base the interest rate charged on a credit score obtained on the applicant.
Loans can be arranged form £500 to £25,000 and the money can be used for any purpose including house improvement, car purchase, holidays, debt consolidation and so on.
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