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What are un-secured loans and personal loans?
A personal loan and an unsecured loan are the same thing, but providers use different names to describe the same product.
A personal loan is sometimes described as an unsecured loan because it allows you to borrow money without having to provide security against it, such as your home or car.
Instead, an unsecured (or personal) loan provider will base their decision on granting you a personal loan by using your personal credit history. This is verified by a credit check to determine your credit rating.
How much can I borrow and over what term?
As unsecured loans can pose a higher risk to lenders, they often expect these loans to be repaid over shorter periods i.e 60 months. The maximum borrowing is usually capped at £25,000.
How do I get charged?
Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (A.P.R). The amount you can borrow, the term available and the A.P.R will all depend upon your status including the lender's view of your ability to repay the loan and your personal circumstances. The A.P.Rs quoted by the lender will usually be typical rates, and these act as a guide only as the exact rate offered will be on an individual basis. As a general rule, it is advisable to compare the A.P.Rs of different loans, as this is a good way to determine how competitive they are.
The Financial Conduct Authority does not regulate unsecured loans.
Fresh Finance Group Ltd are unable to provide unsecured loan advice you will be introduced to a suitably authorised and qualified 3rd party.
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Fresh Finance Group Ltd is an Appointed Representative of Personal Touch Financial Services Limited which is Authorised and Regulated by the Financial Conduct Authority
Some of the products/services shown are not or may not be regulated by the Financial Conduct Authority
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Our fees and charges vary depending on the Services we provide to you. We usually charge a fee for mortgage advice. This would typically be of £995 or 1% of the mortgage loan whichever is greater, payable upon completion.
Fresh Finance Group Ltd, Fenn House, Duke Street, Stoke on Trent Staffordshire, ST4 3NR Fresh Finance Group Limited is a company registered in England & Wales with company number 05706346