Personal unsecured loans

Can I get unsecured joint loans in the UK?

Yes, these are loans taken out by two people, often partners, who share the responsibility for repaying the loan. Since the loan is unsecured, it doesn't require any collateral like a house or car.

Joint loans can be a good option if both applicants have a strong credit history, as this can improve the chances of approval and potentially secure better terms. However, it's important to note that both borrowers are equally responsible for the repayment, and if one person fails to make payments, it can negatively affect both of their credit scores.

Many banks, credit unions, and online lenders offer unsecured joint loans. It's wise to compare offers from different lenders to find the best interest rates and terms.

As an alternative, you can also take out a personal loan. Your possible expenses:

Personal loan calculations for 1 year (example)

Can I get an unsecured personal loans with poor credit?

Yes, it is possible to obtain an unsecured personal loan in the UK with poor credit, although it may be more challenging and come with higher interest rates.

1. Specialist Lenders. Some lenders specialize in offering loans to individuals with poor credit. These lenders often have more flexible criteria compared to traditional banks.
2. Secured Loans. If you’re open to using an asset as collateral, secured loans may be available. This reduces the risk for the lender and can improve your chances of approval.
3. Guarantor Loans. With a guarantor loan, someone with better credit (a guarantor) agrees to repay the loan if you default. This can improve your chances of approval.
4. Peer-to-Peer Lending platforms connect borrowers with individual investors. These platforms might be more flexible with credit scores.
5. Improving Credit Score. Before applying, work on improving your credit score by paying off existing debts, correcting any errors on your credit report, and reducing credit card balances.
6. Short-Term Loans. While these can be an option, they often come with very high-interest rates and fees. They should be approached with caution and used as a last resort.
7. Alternatives to Traditional Loans. A credit card with a low limit or a credit-building card might be an alternative for short-term borrowing. Some lenders offer small, short-term loans specifically designed to help rebuild credit.

What is the largest unsecured personal loans that I can get?

In the UK, the largest unsecured personal loans typically range from £25,000 to £50,000, but some lenders may offer even higher amounts depending on your creditworthiness and financial situation.

How fast can I get a 50k unsecured personal loan?

Obtaining a £50,000 unsecured personal loan in the UK quickly depends on several factors, including the lender’s processing times, your financial situation, and the completeness of your application.

Some online lenders and peer-to-peer platforms may offer same-day or next-day approval for large unsecured loans, particularly if you have a strong credit profile and provide all necessary documentation promptly.

Traditional banks often take longer, typically 1-3 business days for approval, but this can vary based on their internal processes and your credit profile.

If additional documentation or verification is required, the process might extend up to a week.

Some lenders offer pre-qualification or pre-approval checks that can give you an idea of your likelihood of approval and loan terms without affecting your credit score.

See the similar FAQ about UK banks: 

• HSBC loan repayment reward offer
• HSBC: how to apply for a loan
• How to claim PPI from HSBC?
• MandS Bank loan calculator
• Where do I fins calculators of Clydesdale Bank?
• Wire transfer in HSBC: how to make?

Details of companies offering the financial services:

AIB Group (UK)

Head office’s address: 1 Undershaft, London EC3A 8AB

Phone: +44 (020) 764-733-00

Web-site: https://aibgb.co.uk

Swift code: AIBKGB2LXXX

Reference number: 122088

ABN: NI018800

BSB: AIB

Cash Compare

Head office’s address: London

Web-site: https://www.cashcompare.co.uk/

Cashfloat

Head office’s address: Office 8. 2A Highfield Avenue London, NW11 9ET

Contact center: 020-3757-1933

Web-site: https://www.cashfloat.co.uk/

Evolution Money

Head office’s address: 9 Portland Street, Manchester

Contact center: 0161-814-9158

Web-site: https://enquiry.clarity-uk.com/

Fast Loan UK

Head office’s address: Shire Park, 2 Falcon Gate, Welwyn Garden City AL7 1TW

Web-site: https://www.fastloanuk.co.uk/

Halifax

Head office’s address: The Mound, Edinburgh EH1 1YZ

Contact center: 0345-720-3040

Phone: +44 (011) 3242 19 84

Web-site: http://www.halifax.co.uk/

Stock code: HALP

HSBC Bank

Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH

Phone: +44 345 740 4404

Web-site: https://www.hsbc.co.uk/

Swift code: HBUKGB4B

Reference number: 114216

Stock code: HSBA

ABN: 00014259

BSB: HBUK

Lending Stream

Head office’s address: Lending Stream, PO Box 10756, LEICESTER, LE3 4GX

Web-site: https://www.lendingstream.co.uk

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

Nationwide

Head office’s address: Nationwide House Pipers Way

Contact center: 0800-30-20-15

Phone: +44 (034) 5730 20 15

Web-site: http://www.nationwide.co.uk

Swift code: NBSMGB22

Reference number: 106078

Stock code: NBS

ABN: 355B

BSB: NBSM

NatWest Bank

Head office’s address: 250 Bishopsgate, London, EC2M 4AA

Contact center: 0800-88-11-77

Phone: +44 345 788 8444

Web-site: https://www.natwest.com/

Swift code: NWBKGB2

Reference number: 121878

Stock code: GBP1

ABN: 00929027

BSB: NWBK

Norton Finance

Head office’s address: Norton House, Mansfield Rd, Rotherham S60 2DR

Contact center: +44 800-694-5566

Web-site: https://www.nortonfinance.co.uk/

Payday UK

Head office’s address: Payday Loans Limited, The Charter Building, Charter Place

Contact center: 0800-302-9409

Web-site: https://www.paydayuk.co.uk/

Salad Money

Head office’s address: 49 Greek St, London W1D 4EG

Contact center: +44-20-3092-0896

Web-site: https://www.saladmoney.co.uk

Santander

Head office’s address: 2 Triton Square, Regent's Place, London, NW1 3AN

Contact center: 0800-389-7000

Web-site: http://www.santander.co.uk/

Swift code: ABBYGB3E

Reference number: 106054

ABN: 02294747

BSB: ABBY

Sunny

Head office’s address: London

Web-site: https://sunny.co.uk/

Tesco Bank

Head office’s address: 2 S Gyle Cres, Edinburgh EH12 9FQ

Contact center: 0800-591-688

Phone: +44 131 203 5000

Web-site: http://www.tescobank.com

Swift code: TPFGGB2L

Reference number: 186022

Stock code: TSCO

ABN: SC173199

BSB: TPFG

TSB

Head office’s address: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH

Phone: +44 (034) 5975 87 58

Web-site: http://www.tsb.co.uk

Swift code: TSBSGB2A

Reference number: 119278

Stock code: 94AQ

ABN: SC095237

BSB: TSBS

Zopa

Head office’s address: London

Web-site: https://www.zopa.com/