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Unsecured Personal Loans

From home renovations to making a big purchase, an unsecured loan gives you flexibility without securing against your own property

Unsecured borrowing is a great option if you are looking to take out a loan without securing against your home. From small or large purchases to consolidating existing credit into one single monthly payment, we can take the hassle out of finding the right loan for you.
  • We search a wider market of over 600 products to find the best loan rates and terms for your needs

  • Unsecured loans let you spread your repayments over one to seven years

  • Norton Finance loan searches use a soft search, which doesn’t impact on your credit score

  • Get help with your loan application from an experienced and friendly customer service team

  • Making repayments on time could improve your credit score

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What is an unsecured loan?

This type of loan is an agreement between the lender and a borrower that is not secured against property, which allows you to borrow from £3,000 to £25,000. It’s different to a secured loan, which you might take out against your property or car.

With unsecured borrowing, your chosen lender will approve the loan, which you pay back with interest over an agreed time period.

Unsecured borrowing can mean higher rates because the lender feels there is a higher risk without using property as a guarantee. However, it can be a useful and efficient option if you do not have property to secure your borrowing against, and can be quicker to arrange.

If you can’t keep up with repayments, the borrower can’t claim against your home or car. Instead, the lender could take you to court, where you may be liable to a County Court Judgement (CCJ) or debt collection. Before you borrow, you may want to plan out a monthly budget which includes your repayments to reduce the chances of this happening.

Advantages of unsecured borrowing

Some of the pros of unsecured borrowing include:

Disadvantages of unsecured borrowing

As with any loan, it’s important to assess the risks and financial commitments. These may include:

Before you apply

When thinking about applying to borrow, it’s always important to consider your personal situation.

Can I afford it?

You should assess your ability to make monthly repayments as well as the interest fees. This can help you avoid negatively affecting your credit score, and being open to debt collection and court action.

Am I eligible?

Lenders will consider a number of points when deciding on your loan application. Your eligibility for a loan depends on:

Check your credit report

Lenders will use your credit report to determine your suitability for a loan. For this reason, it’s important to make sure your report is accurate. Any errors in the information you provide such as your address or income could affect the chances of your application’s success.

Read our guide to lending decisions to find out what else you can do to increase your chances.

Use our handy loan calculator at the top of this page to start a quote now.

Representative example


Representative example: if you borrow £12,000 over 4 years at a Representative APR of 15.4% APR (fixed) you would pay £330.33 per month.

The maximum APR is 99.1%.

What do I need to apply?

When applying for unsecured borrowing, you will need to provide the following:

Once you’ve supplied these, we’ll be in touch to talk through the next steps.

Ahead of our introductory call, it can be helpful to have your financial records handy, such as bank statements, monthly income and mortgage or rent payments.

If you’re planning to use your loan for debt consolidation, you can help speed up the process by gathering the information you have about any other existing loans or credit cards, including repayment costs and loan periods.

Commonly asked questions

Here are a few of the questions our customers often ask about unsecured loans, so you can decide whether it’s for you.

Does unsecured borrowing negatively affect my credit rating?

No. In fact, a well-managed loan repayment plan can help you to improve your credit rating. By making regular payments and repaying the loan in full within the agreed time frame – or before - you’re demonstrating to future lenders that you’re a responsible borrower.

Stay on top of payments and the loan won’t negatively affect your credit rating.

What is a soft search?

A soft search lets a lender see your credit report without leaving any trace of their search on your public record – so you will be able to see it, but other lenders won’t.

On the other hand, hard searches are visible and may negatively affect your credit score if they lead to unsuccessful loan applications.

How many unsecured loans can I have?

There’s no official limit to how many unsecured personal loans you can have at one time. However, you should always make sure you can afford all the repayments and interest or any fees before taking out an additional loan.

If you have multiple loans, it’s also worth noting that lenders will be able to see this on your credit report and may opt not to lend you more money if the perceived risk is high.

What happens if I default?

If you default on a loan without collateral, the lender can add fees or penalties to the total amount owed and take legal action to recover their debt. Ultimately, the loan may be taken over by a collection agency, who will pursue you for the outstanding payments.

Unsecured loan details

Norton Finance can help find a loan that corresponds to your personal financial situation and your individual needs. Because we compare loans, rather than offering one product like a building society or bank, we can scour the full market and identify the right loan for you.

Our flexible loan options for unsecured borrowing let you borrow from £3,000 to £25,000, over any period between 1 and 30 years.

We’ll make an ‘in principle’ decision on your application within 24 hours of receiving it and can make a direct payment in around 14 days. Use our unsecured loan calculator on this page to find out how much and for how long you can afford to borrow, adjusting the sliders to meet your ideal terms.

At Norton Finance, we have access to over 600 loan products as well as flexible repayment plans.

What can I use an unsecured loan for?

There are many reasons people choose to take out unsecured loans, including:


Consolidating debts

Consolidate your debts into a single repayment plan and help building a better credit history.

Home improvements

Use your unsecured loan to help add value to your home with a few fix ups or a renovation project.

Emergency expenses

You could use an unsecured loan to pay off an unexpected but essential expense like a boiler repair or broken window.

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