Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Unsecured loan: a blessing in disguise for tenants

Written by: Nidhi Sachdeva

In the recent past, Britain has seen a steep rise in its mobile workforce. This has prompted a sharp increase in the number of people hunting for a rented accommodation. Besides work, a number of other reasons like unavailability of council homes, divorce etc. may be attributed to the increase in the number of tenants in the UK. If you are a tenant it is very obvious that you will not be able to offer a home as collateral for a loan. In other words, you automatically become ineligible for a secured loan unless you forward something else like stocks, car or jewellery as security and your lender accepts them too.

In a situation where your lender is not so understanding and you need to borrow money urgently, what do you do? To cater to the financial needs of tenants a different category of loans by the name of unsecured loans was propounded.

Unsecured loans are a form of credit that is especially meant for people who cannot offer collateral. Since, there is no security provided to the lender, his risk increases several times. To offset his risk therefore, the lender levies a high rate of interest.

But unsecured loans also come with several advantages. Firstly, absence of collateral eliminates the need for valuation, thus saving you the cost of valuation, arrangement, solicitor's and conveyance fees. What's more you save time also and paperwork becomes a lot less hassle prone. Consequently, an unsecured loan has a swifter approval process.

Your credit score plays a very vital role in the process of getting your unsecured loan approved. A bad credit score increases your chances of facing a loan refusal, whereas a splendid credit history may be rewarded with a low rate of interest. Basically the point is that your lender needs to be convinced about your repayment ability. Once that is done, the rest may just be a cakewalk.

However, if you are refused a loan on account of your poor credit score, don't lose hope. There are a lot of lenders that lend money to poor credit holders and that too at easy terms.

About the author:

The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Shakespeare Finance as a finance specialist. for more information visit our site http://www.online-unsecured-loans.co.uk


Other Related Articles:

Guide to Business Loans
Here is a useful guide to business loans. Business loans are loans specifically tailored for enterprising business people who are just starting their own companies or existing companies needing additional funding for expansion or restructuring. ...read more

Taking the Edge Off of Military Motorcycle Loans
So you have decided you want a motorcycle and you know you need a loan. Being in the military you’re probably moving a lot and one of your main obstacles will be the accuracy of your personal information on your credit report. If your credit report...read more

The Truth About Debt Consolidation Loans (Avoiding Potential Pitfalls)
Submitted by: John Lee WorldWideReviews http://moneyemployment.worldwidereviews.com/DebtConsolidationRefinance.htm Online Debt Consolidation Loans Companies. You've probably heard the advertisements on the radio or seen them on...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map