If you are a UK citizen, you would understand what is expensive, high standard of living or luxury. It becomes difficult to stay in this atmosphere especially if your income is not high. You can get loans to satisfy your desires but again to get loans you need to mortgage your house. Most UK citizens don’t own any property. For this purpose lenders have decided to provide no guarantor loans to the citizens of UK where you don’t need any security. The rules of the state where you reside are applicable for the unsecured loan. Some common factors though are that you should be a major, a salaried employee who pays the credit card bills on time and you should have a permanent bank account in the state of UK you stay.
For unsecured loans the amount of loan is pretty less as compared to the secured loan. You will get a loan up to £25000 and repayment period is short too. A period of only 5-10 years is applicable for the unsecured loans. This period is further shortened for people with bad credit who apply for this loan. As this loan requires no security the rate of interest charged for this loan is higher. You can apply for this loan online by visiting the site of the individual lender or bank and filling out the form online. Once the form is submitted, you might have to produce documents for residence proof, identity proof and other such on demand of the lender. If no such document is required you will directly get the loan amount. You need to make sure of the authenticity of the lender from whom you take your loan so make a thorough search and research on the different lenders before applying for a loan.