What can I use a loan for?

What can I use a loan for?

With some loans, it’s your choice how you use it. But other loans, such as a car loan or a debt consolidation loan, they’re more clearly intended for a specific purpose.

The amount you can borrow on a secured loan is usually much larger than an unsecured loan. Popular ways to spend a secured loan include large-scale home improvements, legal purposes, and debt consolidation.

Unsecured loans, on the other hand, have a much smaller loan limit and are better suited to smaller value purchases such as essential home improvements and vital car repairs.

FAQs: Pick a category below you may need help with

All loans

Baffled by all loan types? In this section we go over the key things you need to consider before you take out a loan.

Bad credit

If you're unsure why you've got bad credit, we can help. Here we explain its causes and how you can improve your score.

Secured loans

Get to grips with how secured loans work and what you need to bear in mind when taking out this type of loan.

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