Compare £15,000 Unsecured Loans

Compare interest rates and term lengths for £15000 unsecured personal loans. Compare a range of personal loans from UK lenders amd check your eligibility* without impacting your credit score

Checking your eligibility won't affect your credit score

Loan amount

Not selected

Repayment term

Not selected

Reason

Not selected
Provided by Monevo Logo
Last updated on 20 January 2022.

£15,000 Unsecured Loans FAQ

What is a £15,000 unsecured loan?

A £15,000 unsecured loan is a loan taken out from a financial provider that does not have to be taken out using collateral as security. Instead it is primarily based on a borrower’s creditworthiness and their ability to pay back the loan over a specific term. A number of lenders offer loan arrangements for £15,000.

How do unsecured loans compare to secured loans?

When taking out a £15,000 unsecured loan, you will notice that you may be required to take out a higher level of interest compared to a secured loan. This is because you are not providing an asset as collateral as security against the loan, such as the equity in your home. Unsecured borrowing can be as high as £50,000, although most commonly offer up to £25,000.

Does the lack of collateral make it riskier?

Having no collateral does entail higher risk for a lender, so a higher interest rate is typically the way your lender compensates for this. When researching lenders, make sure you know what you can afford to pay, so you avoid missing any future payments or being unable to pay what is required of you over the arranged term.

I might need some extra time to pay the unsecured loan back. Is this possible?

Despite higher risk, you are usually given greater flexibility with an unsecured loan, especially with regard to the length of time you wish to pay the loan back over, which is agreed at the outset. You can negotiate this with a lender, to ensure no nasty surprises when it comes to payments. A term loan will fix your repayment plan into monthly instalments, at a pace suited to you. If you need to extend this period, then speak with your lender as soon as possible to see whether your loan can be adjusted. Some lenders might be accommodating while others may be less so.

What happens if I’m unable to meet payments on my £15,000 unsecured loan?

Lenders require commitment and willingness to settle debts, but if you find yourself struggling to meet your repayments on your £15000 loan, it’s important to speak to your loan provider as soon as possible rather than leaving the problem to build up, which could result in serious money problems.

With unsecured loans, as there is no collateral to offset the debt, the lender will look entirely to the borrower to find a method to repay the loan.

Can failure to repay the £15,000 unsecured loan affect my credit rating?

Yes. Late or missed payments can result in your credit rating being damaged – these are known as defaults. If missed payments continue there are various stages the lender will go through to attempt to recoup its loss, which could end up with an application to the courts, who may in turn penalise you with a County Court Judgement. This would show on your credit file for 6 years and significantly restrict your ability to gain any form of credit during that time.

What other consequences can result from failure to repay my £15,000 unsecured loan?

As well as doing damage to your credit rating, failure to repay your £15,000 unsecured loan may result in sequestration or bankruptcy. Your lender might even choose to hand the responsibility of resolving the issue over to a debt collector, who will make contact with you directly to settle the debt.

Compare products provided by Monevo
  • M&S Bank Personal Loan logo

    M&S Bank Personal Loan

    • Representative APR
      2.8% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 7 years
  • Post Office Money Personal Loan logo
    Broker

    Post Office Money Personal Loan

    • Representative APR
      8.1% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 7 years
  • Admiral Personal Loan logo

    Admiral Personal Loan

    • Representative APR
      9.9% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 5 years
  • JN Bank Personal Loan logo

    JN Bank Personal Loan

    • Representative APR
      12.9% APR
    • Available Amounts
      £1,000 to £15,000
    • Min / Max Terms
      2 to 5 years
  • Shawbrook Personal Loan logo

    Shawbrook Personal Loan

    • Representative APR
      13.9% APR
    • Available Amounts
      £1,000 to £35,000
    • Min / Max Terms
      1 to 7 years
  • Zopa Personal Loan logo
    Peer To Peer

    Zopa Personal Loan

    • Representative APR
      15.4% APR
    • Available Amounts
      £1,000 to £25,000
    • Min / Max Terms
      1 to 5 years
  • My Community Finance Personal Loan logo

    My Community Finance Personal Loan

    • Representative APR
      18.85% APR
    • Available Amounts
      £1,500 to £25,000
    • Min / Max Terms
      1 to 5 years
  • Oplo Personal Loan logo

    Oplo Personal Loan

    • Only available to homeowners
    • Representative APR
      31.6% APR
    • Available Amounts
      £2,000 to £15,000
    • Min / Max Terms
      2 to 6 years
  • Everyday Loans Personal Loan logo

    Everyday Loans Personal Loan

    • Representative APR
      99.9% APR
    • Available Amounts
      £1,000 to £15,000
    • Min / Max Terms
      1 to 5 years

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Our service is free of charge but we receive commissions from the providers we refer you to. This table is initially ordered by representative APR. You can use the options above the table to order it according to various criteria. You may be offered different rates depending on your personal credit rating.

Our comparison service features a selection of providers from whom we receive commission.

Monevo Logo

*Eligibility Service:

The loans eligibility service is fully provided by Monevo.  The data you supply is directly submitted to Monevo and is used to retrieve loan quotes from their panel of lenders.  By using their loans eligibility service you are agreeing to Monevo’s terms and conditions and privacy policy which can be found at Monevo.co.uk. Monevo does not carry out credit repair services.

Monevo.co.uk is a registered Trading Name of Monevo Limited which is an Appointed Representative of Quint Group Limited, and is entered on the Financial Services Register under reference number: 723672.  Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450.  Monevo Limited is registered in England and Wales (Company number 06511345). Registered office: Glasshouse, Alderley Park, Nether Alderley, Cheshire,SK10 4ZE.  Licensed by the Information Commissioners Office, (Registration number Z1498441).

NerdWallet - Our awards

Award-winning comparisons you can trust

It's always nice to know you're on the right track. Over the years, as we have striven to improve the services we provide to our clients and users, we have been pleased to receive recognition for our efforts from both industry and consumer bodies.