For many people spending on themselves is not a luxury they can afford due to their meagre salaries. Sometimes, people find themselves facing some unexpected expenses they do not have the means to deal with. To deal with these expenses they find themselves borrowing money against some security provided to the lenders. In case they are unable to repay this money, they stand at the risk of losing their property. This idea makes them wary of borrowing money.

Unsecured Personal Loans have all the advantages that personal loans have minus the major disadvantage of security. In this service, one can borrow money from the lenders without having to keep any security with the lenders. This makes the service more attractive drawing more borrowers.

Lenders providing this service generally offer the borrowers money in the range of 1000 - 2500. The borrower can use this money to deal with any expenses that he or she might be facing. This money then has to be paid by the borrower within a period of 1 to 10 years.

In order to be eligible for this service one has to meet the following requirements:
Borrower has to be a citizen of the UK.
Borrower must have an active bank account.
Borrower should be employed with a regular income.
He must be at least 18 years of age.

Once the borrower meets these minor conditions, he or she can apply for this service through the online application system. In this system, one does not need to acquire and fax any sort of documents. All one has to do is fill up an online application form with all the required details and submit this form. Unlike before, this process now only takes a matter of minutes to complete.

Another major advantage of this system is that the borrower does not have to keep any sort of security against the borrowed amount with the lender. In this case, the borrower does not risk losing his or her hard-earned property in case they are unable to repay the lender on time.