Unsecured loans do not require you to use an asset as collateral, which means they may not be as restrictive as other loan types. However, as there is less security for the lender, unsecured loans may be a costly way to borrow. This is contrasted against secured loans, which require you to offer an asset, usually your house or car, as collateral in case you default on your loan. While this can result in more affordable interest rates, it poses more of a risk to you as your high value item could be repossessed if you miss payments. QuidMarket are unsecured loans direct lenders, so we will not ask you for security or a guarantor. Instead, we will check your affordability to ensure you are able to meet repayments each month.