Unsecured Loan FAQs

To defer repayments on a loan means to take a payment break at the start of the loan term, in other words you receive the loan amount but then do not have to start repaying the loan for an initial period – usually around 3 months.

Many lenders offer deferred repayments on unsecured loans, with the length of the repayment break varying from one lender to another. ... read more

Unsecured loans can usually be repaid over a period of 1 to 5 or 7 years. However, there are lenders offering repayment periods on unsecured loans of up to 10 years.

These longer-term 10-year unsecured loans are available with Northern Rock or Tesco. Eskimo loans (provided by Northern Rock) also offer loan terms of up to 8 years.... read more

The laws governing credit require any lender to allow you to repay your debt whenever you want. However, many lenders will still charge an early repayment fee if you do repay your loan before the end of the loan term.

Where an early repayment penalty is charged – on unsecured loans it is usually around 1 month’s interest charges. There are also unsecured loans available that do not charge an early repayment fee at all.... read more

Most people cannot always afford to pay for the things that they want upfront, and purchases such as a new car, a luxury holiday, or paying for a wedding or education can be very expensive. One effective way to pay for such purchases is through an unsecured loan, which is a loan available to both homeowners and tenants with decent credit.... read more

Unsecured loans lend money based upon your personal and financial circumstances.

The lending criteria heavily relies upon your credit history and how much you can afford to borrow, by taking into account your credit score and your income.... read more