Aspire money has a number of lenders on our panel that specialise in offering unsecured loans from £500 to £25,000. An unsecured loan offers the flexibility to borrow money for a wide range of purposes, such as a new car or improvements to your home. Unsecured loans are also referred to as personal loans and are not secured against your home or any other asset. However, if you do own a property, you may be eligible for a better rate by opting for an unsecured homeowner loan.
There are several reasons why an unsecured homeowner loan may be an option for you:
- An unsecured homeowner loan can provide you with the cash you need if you have been refused a loan from the bank in the past.
- As an unsecured homeowner loan is not secured against your home or any other assets, you won’t put your home at risk if you fail to keep up with your monthly payments.
Important points to consider:
- Personal loans have higher rates of interest than some other forms of borrowing.
- Although your home may not be at risk, lenders still have the legal right to recover monies not paid on the personal loan.
- Lenders can arrange for County Court Judgments to be issued against you if the debt is not paid in full.
You will need to repay the entire loan in full as well as any additional interest. Interest rates on unsecured homeowner loans vary and are based on the borrower’s individual circumstances. However, our loan calculator can help you work out the cost of borrowing.
We specialise in finding loan options for customers, so even if you have a poor credit rating, we may still be able to help you find a suitable loan. Lenders on our panel evaluate customers based on their individual circumstances and will look at factors such as your income and outgoings, as well as any other assets you might have, to help determine your eligibility and whether you can afford the monthly repayments.