subject: Tenant Loans: Secured Financial Assistance In An Unsecured Way [print this page] With tenants not being in a position to pledge any asset as collateral, availing external financial assistance does not seem to be feasible. This certainly means that the applicants in particular will have a difficult time, pursuing their needs and demands. However, there are certain ways, which the applicant can count upon to resolve the crisis at hand. In this context, the tenants in particular can go for the provision of tenant loans. With the assistance of these loans, the tenants can now easily acquire the funds, which then empower the applicants to fructify their various needs and demands.
It can be said that the loans have been designed to suit the needs of the tenants. The collateral free approval just makes the point. Moreover, any tenant irrespective of credit status and financial background can grab the funds. This clearly implies that tenants with serious credit disputes such as CCJs, IVA, arrears and defaults too can make use of these loans. Further, the loan amount released can be utilised to serve expenses on needs such as:-
-Consolidating debts
-Renovation of car
-Pursuing higher education
-Meeting wedding expenses
Since the loan amount is released without any asset, the lenders do check certain aspects, prior to the approval of the funds. After assessing your prevailing circumstances and requirement, an amount in the range of 1000-25000, which then has to be repaid over a period of 1- 10 years.
The interest rate charged in context to loans for non homeowners, is slightly higher than the normal rates. It is because; the lenders take a huge risk by approving the funds, without any adequate security. However, with a detailed research of the loan market, you can certainly come across lenders offering suitable deals. A proper research over the online market, by comparing the rate quotes of the various lenders; it does make it simple for you to source the loans against convenient terms and conditions.
With tenant loans, now it is possible for the applicants who do not own any asset, to retain their financial freedom.
by: Korbin Hunter
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