UNSECURED LOANS INFORMATION

Please see information on Unsecured Loans below.

        

Unsecured loans

What is an Unsecured Loan?

Unsecured loans are a common type of loan in Ireland and can also be known as a personal loan. Because you are not required to provide security or collateral to secure then loan – they are a lot less risky and can be more desirable.

What are unsecured loans used for?

Unsecured loans can be used for all kinds of purposes, however, the main reasons people take out unsecured loans are for holidays, weddings, home improvements, buying a vehicle or consolidating your loans.

What are the benefits of Unsecured Loans?

Unsecured loans are widely available in Ireland, allowing an individual to borrow money from a lender on an unsecured basis. In other words, you do not have to use a large asset such as your home or car as collateral. This means that unsecured loans are a lot less risky than a secured loan where you could lose your home or car if you do not keep up the repayments.

How much can you borrow?

The amount you can borrow is based on your capacity to make regular repayments. It is important not to stretch yourself too much and take into consideration any out of the blue expenses which might take you by surprise.

What are the risks?

Generally whether you loan is approved or not is decided by your credit rating. There are a number of companies that will approved you for an unsecured loan, however, watch out for the interest rate with these loans as they will be higher if you have a poor credit history.

        


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