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


What is a Tenant Loan?

Written by: John Mussi

Ever wondered what is a Tenant Loan? A tenant loan is another term for an unsecured personal loan. Tenant loans are aimed specifically at people who do not own any property. Tenant loans are a way for those people who rent their accommodation from the council, private landlords or live with parents to apply for a loan.

Tenant loans are unsecured because you do not need to own a property to use as collateral on the loan. Unsecured loans are a good loan option for people who are financially stable and able to keep up loan repayments, and who may or may not own their own property.

Tenant loans can be taken out and used for any purpose, including new car, debt consolidation, home improvement or luxury holiday.

Tenant loans are available from a range of banks, building societies and other financial institutions. You can borrow from around 1,000 to 50,000 and choose to repay the tenant loan over a period of 1 to 25 years.

The basic requirements for those wishing to apply for tenant loans are:

You are in full time employment.

You are paid by computerised pay slips.

Your bank account accepts a Direct Debit facility.

You have proof of identification and residence - normally utility bills.

You have made satisfactory rent payments (excluding "living with parents")

You have a home telephone line (or a mobile provided a copy of the agreement is produced)

The disadvantages of tenant loans is that you will not be able to get such low interest rates or as much collateral as those who put up their home as security have access to. Rather than borrowing up to 100,000 which you can if you own a property, you will only be able to borrow up to 25,000. However there are benefits - the loan will not be tied to your home so if you do have problems repaying, your home will not be directly at risk.

It is important to carefully plan and budget your monthly repayments to make sure you can afford to take out a tenant loan. Tenant loan lenders will be less relaxed about missed repayments because they do not have your property as security. Remember that although the loan lender cannot repossess your property, they can still take you to court.

When applying for a tenant loan you will need to have three years accommodation and address details, and three years employment history. If you have moved address or job recently you may have more trouble getting a loan.

However there are loan companies that will offer you a loan whatever your situation, so make sure you are honest when making your application and you will be able to get a loan that suits you and your needs.

You may freely reprint this article provided the author's biography remains intact:

About the Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.


Other Related Articles:

Personal loans UK: customizing your future!!!
Today, with the constantly escalating standard of living in the UK, taking a loan is a mundane feature. It is no longer that last sought option. With growing competition, there are innumerable lenders in the UK finance market who can...read more

Consolidation Loan Student Programs: Bringing Your Dept Under Control
If you are like many students and recent graduates, you very well have amassed a great deal of student loan debt. In this regard, you may be looking for ways in which you can bring your outstanding student loan balance under control. You might...read more

Home Loans and Mortgages Beware of Deed Theft Scam
The average home in the United States has a value of $206,000, a record amount. Real estate prices have been rising throughout the country during the last five years, and homeowners have seen the value of their property skyrocket. In California...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