subject: For Non Homeowner-bad Credit Tenant Loans-a Real Fair Deal [print this page] It is quite right that your house plays a very significant factor while taking a loan. A homeowner positively gets more profit than a non-homeowner. But that doesnt mean if you are a non-homeowner, you will not obtain a loan contract according to your requirements. If you are finding it hard to obtain affordable loans being a non-homeowner, avail bad credit tenant loans which offers loan to non-homeowners. These loans are obtainable particularly to non-homeowners having a bad credit record.
Bad credit tenant loans are obtainable to various types of non-homeowners including group tenants, housing association tenants, MOD tenants, private landlord tenants, living with parents, housing executive tenant etc. They can without difficulty apply for bad credit tenant loans.
Before going any additional towards applying for bad credit tenant loans, you should first of all be clear about what a bad credit record is and how far you are suitable for the loan. A bad credit record includes any of the following:
-Arrears
-Defaults
-Bankruptcy
-CCJ
-Poor credit score
-Late payments
Your credit score plays a very significant role in receiving you the loan. In fact the lender qualifies you for the loan total on the basis of your credit score. To know your credit score, you can demand various credit rating agencies to send your credit score. Credit score is mostly a history of how you have been paying off your debts till now.
You can obtain a bad credit tenant loan in two forms- secured and unsecured. A secured loan is offered next to a security. Since you do not own a home, the collateral usually comprises jewelry, car etc. You can obtain a loan total ranging from 3000-25,000 for a period of 2-25 years with secured loans. While unsecured loans do not need any collateral but are offered in small amounts ranging from 1000-10,000 for a refund of 6 months to 10 years.
The interest rates are charged according to the loan total and the refund time. However with a thorough research on lenders, you can obtain bad credit tenant loans in a very cheap price. Internet has a list of whole range of lenders where you can without difficulty look out for the greatest lender.
Avail bad credit tenant loans and obtain a chance to live a stress-free life. These loans give you a fair chance to improve your credit record increase your chances of receiving a better contract in future.
by: carl fullar
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