If you want to give a new look to your home, then an unsecured home improvement loan is the option to be analysed. This loan alternative is meant for small home improvement works like kitchen upgrades, bathroom fittings, new furniture, wooden floors, garden landscaping, etc. and lenders usually approve up to £25000.
An unsecured home improvement loan is very popular for its no collateral feature. Significance of collateral in the loan bazaar is clear. However, this loan ensures that collateral alone is not the deciding factor, as there are times when either it is not possible or it is not required.
The most positive aspect of no collateral obligation is that the turn around time is less, i.e., in the absence of time-consuming property evaluation procedure, the loan approval time is much less. This makes the entire procedure fast and comfy.
Hence, an unsecured home improvement loan is ideal for:
A tenant – when he has nothing significant to pledge
A homeowner or property owner – when he is not willing to risk his asset
An urgent need – when time matters
A temporary and small monetary need – when security is not required