subject: Unsecured Tenant Loans : Money For Tenants [print this page] Are you a tenant residing in UK, wanting a suitable loan, without having to place an asset of yours? If yes, then unsecured tenant loans are an excellent opportunity for you.
These finance can be availed by those people who do not have their own home to pledge against the borrowed amount. It is exclusively designed for non-homeowners living in UK.
This credit is made available for all types of tenants such as housing association tenants, MOD tenants, council tenants, private property owner tenants, people living with their parents and housing executive tenant.
A borrower can borrow anything from 1,000 to 50,000 along with a flexible repayment period of 1 to 25 years. Lenders charge a high interest rate on these loans. However, the interest rate can be negotiated.
People find it difficult to apply for any kind of credit if they do not have a personal property. Now even if you do not own a personal property, you can apply for this cash. This form of credit is similar to personal unsecured loans. Hence, personal needs like financing a vacation, wedding, and buying a car can be fulfilled with the help of this cash.
The following criterion needs to be fulfilled in order to avail unsecured tenant loans. They are as follows;
"The applicant should be a permanent resident of UK.
"He should have fulltime employment for the last three years.
"A direct debit card acceptance facility should be attached with the borrowers bank account.
"Residential proof and identification proof should be submitted.
"A contact number of the borrower should be given.
The lender will check the borrowers credit history and repayment capacity before offering this finance. However, even if you are labeled as a bad credit holder, tenants can take shelter in unsecured loans for tenants. Thus, such cash can be availed by people having adverse credit history too.
by: anthony thomas
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