Hot Topics

What is an unsecured loan?
An unsecured loan is a loan where no asset is pledged as security for the loan. (The most frequently used security is the family home.)
How long can I take the loan over?
How long you take the loan over depends on how much you need and how much you can afford to repay on a monthly basis.
Can I have a fixed rate loan?
It is entirely up to you if you want a fixed rate or a variable rate loan – however there are some limits to this.
What if I want to move house during the term of my loan?
Moving house is only an issue if you have a secured loan – as you have borrowed against the value of your house. How your loan company deals with this varies greatly. Some allow you to transfer your loan to your new property, using your
I have not been with my current employer very long, can I still apply for a loan?
To apply for an unsecured loan you will normally need to provide 3 consecutive pay slips to prove that you have a regular income.

Will the loan company contact my employer?

Firstly, a loan company will never contact your employer without your consent.

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If they require you to provide official confirmation of your income, you will normally have to provide three pay slips and/or a P60. If you cannot produce any of these items, because for example you have only just started with the employer, the loan company may ask your permission to obtain a brief reference from them. This will purely be to ask them to confirm your position, length in employment and your annual salary. They will do this in writing so the process will normally take a few days, and will hold up your application process. They will not supply them with any details of your loan application, so your application will remain confidential.

If you are applying for your loan through your bank, you may not have to give any proof of income as they will have details of your monthly/weekly salary on your bank records.


Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.