Some times it is only smaller money that one is in need of. It would be unwise therefore to apply for a loan meant for greater borrowings and then borrow smaller amount. You should instead opt for unsecured personal loans as these are carved out especially for smaller amount of borrowings for any personal purpose such as home improvements, buying a car, going to a holiday tour and wedding or for debt consolidation. These are source of risk free borrowings. The lender approves these loans without collateral. Tenants or non-homeowners, therefore, most benefit from them though homeowners, who do not wish to put home at stake also are eligible for the loan. The sole basis of the approval usually is the borrower's adequate repaying ability. Ensure showing the lender all documents such as of income and employment that are necessary to prove that you have capability to repay the loan in time.
Borrowers are approved for £5000 to £25000 as unsecured personal loans. However, the amount depends a lot on borrower's personal circumstances like repaying ability and credit history. Usually good credit history borrowers are preferred for greater loan since they have fewer risks for lenders. The repaying duration remains shorter in the range of 5 to 15 years. These thus allow borrower for early shedding the loan burden off shoulder. However, a slight disadvantage of them is its high cost. Lenders tend to charge interest on them at higher rate. For high risks borrowers the rate may go further higher.
Borrowers with bad credit history having multiple problems like late payments, defaults, CCJs or IVAs are also being approved for unsecured loans for personal purposes if these borrowers are able to prove adequate repaying ability. Get a copy of your credit report for checking errors in it before applying for the loan. Online lenders provide them for personal use at competitive rate of interest. Take their rate quotes to compare them for a suitable deal as per your circumstances.