how much can typicaly be borrowed on an unsucure loane
You can usually borrow up to Â£25,000 with a personal loan â any more and the lender will want you to put up an asset (such as property) as security.Interest rates vary, but generally speaking, the bigger the loan amount, the lower the rate of interest.You might, for instance, pay 12% on a Â£1,000 loan but only 7% on a loan of Â£7,000. It can therefore be more cost-effective to borrow a larger amount, perhaps Â£7,000 instead of Â£6,500.But avoid taking out a loan you cannot afford to service or repay. Personal loans might be unsecured, but you still have to pay the money back.t can therefore be more cost-effective to borrow a larger amount, perhaps Â£7,000 instead of Â£6,500. But avoid taking out a loan you cannot afford to service or repay. Personal loans might be unsecured, but you still have to pay the money back.