If you are considering making home improvements, buying a new car or you are simply thinking of consolidating your personal finances, an unsecured loan could be the sensible answer.

Unlike a secured loan, an unsecured loan does not require you to have property to use as collateral for the loan. This type of loan is not secured against your assets, it is therefore more of a risk for the lending institution and more stringent criteria are used to assess applications. It is important that the lender can see evidence of a good credit history and earnings sufficient to meet regular loan repayments.