A tenant loan represents a type of unsecured loan, offered to persons who rent out their place, either from the council or from a private landlord, or live with their parents. You can apply for such a loan regardless of what your residential status is.
Tenant loans are unsecured meaning that borrowers are not required to pledge an asset or property as a guarantee to obtain financing. Tenant loans are a good choice for persons who can cover their monthly payments but do not have valuable assets to offer as collateral. Persons who opt for a tenant loan in the UK can use the money to pay for a surgery, holiday, or wedding ceremony, or use it to purchase a car, for debt consolidation or home repairs.
If you think of obtaining a tenant loan, you can check with a number of financial institutions in the UK, including HFC Bank, First Direct, Lloyds TSB, the Nationwide Building Society, ING Direct UK, and many others. Some lenders offer insurance coverage to borrowers who are unable to keep up with repayments at all or on time. There are lending companies that feature tenant loans, and some of them consider all kinds of credit circumstances, such as defaults, arrears, and CCJs. These loans are advertised as same day tenant loans, tenant loans for bad credit, poor credit tenant loans, and instant decision tenant loans. Housing association tenants, private tenants, as well as council tenants can apply for financing. Loans come with interest rates ranging from 7.7 to 18.3 percent.
Lending companies that feature instant tenant loans usually offer a high interest rate because loan repayment is not guaranteed. The repayment period varies from 6 months to 10 years, and the loan is repaid in monthly installments. Council tenant loans are a good option for persons who need a large amount of money, and these are offered at a low interest rate. Even persons with insufficient credit, no credit, or bad credit can apply for a loan.
Who qualifies for a tenant loan? Lenders take into account your income and expenses to decide on the amount you can afford to borrow. Salaried professionals who can provide computerized pay slips meet the eligibility criteria. Unless living with their parents, applicants should have a telephone line or a mobile and prove they have paid their rent on time. Financial institutions also require evidence of recognition and residence. Those who meet the eligibility criteria can apply for a loan in the amount from 1,000 to 50,000 and the repayment period is from one to twenty-five years.
In case you do not meet the requirements, you can consider applying for another type of loan. If you have a guarantor, you can take out a guarantor loan. You should be 21 to 65 years of age and employed full-time to qualify for a guarantor loan. In the UK, a suitable guarantor is a person aged 23 to 67, who is a homeowner, and his income is over 800 a month.
Tenant loans are unsecured meaning that borrowers are not required to pledge an asset or property as a guarantee to obtain financing. Tenant loans are a good choice for persons who can cover their monthly payments but do not have valuable assets to offer as collateral. Persons who opt for a tenant loan in the UK can use the money to pay for a surgery, holiday, or wedding ceremony, or use it to purchase a car, for debt consolidation or home repairs.
If you think of obtaining a tenant loan, you can check with a number of financial institutions in the UK, including HFC Bank, First Direct, Lloyds TSB, the Nationwide Building Society, ING Direct UK, and many others. Some lenders offer insurance coverage to borrowers who are unable to keep up with repayments at all or on time. There are lending companies that feature tenant loans, and some of them consider all kinds of credit circumstances, such as defaults, arrears, and CCJs. These loans are advertised as same day tenant loans, tenant loans for bad credit, poor credit tenant loans, and instant decision tenant loans. Housing association tenants, private tenants, as well as council tenants can apply for financing. Loans come with interest rates ranging from 7.7 to 18.3 percent.
Lending companies that feature instant tenant loans usually offer a high interest rate because loan repayment is not guaranteed. The repayment period varies from 6 months to 10 years, and the loan is repaid in monthly installments. Council tenant loans are a good option for persons who need a large amount of money, and these are offered at a low interest rate. Even persons with insufficient credit, no credit, or bad credit can apply for a loan.
Who qualifies for a tenant loan? Lenders take into account your income and expenses to decide on the amount you can afford to borrow. Salaried professionals who can provide computerized pay slips meet the eligibility criteria. Unless living with their parents, applicants should have a telephone line or a mobile and prove they have paid their rent on time. Financial institutions also require evidence of recognition and residence. Those who meet the eligibility criteria can apply for a loan in the amount from 1,000 to 50,000 and the repayment period is from one to twenty-five years.
In case you do not meet the requirements, you can consider applying for another type of loan. If you have a guarantor, you can take out a guarantor loan. You should be 21 to 65 years of age and employed full-time to qualify for a guarantor loan. In the UK, a suitable guarantor is a person aged 23 to 67, who is a homeowner, and his income is over 800 a month.
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To learn more about Cheltenham & Gloucester Bank and Barclays please visit http://www.ukbanks.org
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