Loans made simple
There are two types of loans: secured loans and unsecured loans (these are sometimes called personal loans).
A secured loan is money lent to you that's 'secured' against something you own. This is usually your home but it could also be a car or something else of value.
A personal loan is money that's lent to you that isn't secured against anything.
Loans explained simply: you borrow a set amount of money and repay it over a set period of time, usually from one to five years. You'll be charged interest by the company lending you the money but this will be added to the amount you repay each month.
If you’d like to know more about personal loans from APR’s to Peer-to-peer lenders then we’ve created a guide to help. This guide will give you an overview of options available but should not to be used to make informed decisions as personal circumstances can affect the options available to you.
Download the guide