Using Tenant Loans in the UK to Get By
The amount of renters looking into tenant loans in the UK is on the rise. Whereas it used to be that homeowners were considered above renters, that is no longer the case. For the most part, an equal number of people rent and own their own homes. As a result, a lot more tenants are interested in getting a loan.
In short, tenant loans are a very specialized kind of loan. They are meant, of course, for people who rent, whether they are leasing houses or flats. Over the years, it has become much easier to get a tenant loan.
You do not have to have any collateral in order to receive a tenant loan. As the borrower, you do not have to offer up anything in return for the loan. This, of course, makes it unsecured. However, even that is preferable when you are in dire need of a loan.
All the same, they are unquestionably advantageous. The best part is that all different types of renters qualify. Most notably, if you are a PG tenant, a council tenant, an MOD tenant, a housing associate tenant, or if you rent a room in your parents' home but do not own it yourself, you can get a tenant loan.
As with most everything else, however, there is a catch. In this case it is more like some qualifications you have to meet to be eligible. For instance, you need to have plenty of financial aid. Specifically, you need to be able to take care of your living expenses. This could mean being able to buy a car or to qualify for debt consolidation.
You also need to be at least eighteen, if not older, to qualify. You should be gainfully employed in a full time job, at which you make at least a thousand pounds. Not only do you need to have a checking account, but it needs to be a valid one with Direct Debit. You also need to be able to prove that you have lived at your current address for no less than twelve months.
One of the nice things about an unsecured tenant loan is that they are available to people with less than perfect credit histories. Most lenders of tenant loans have come to understand that they much be more realistic and their requirements of who they will land too.
As a consequence of this economic reality short-term money is more easily available to tenants in the UK. Your chances for approval are excellent.
In short, tenant loans are a very specialized kind of loan. They are meant, of course, for people who rent, whether they are leasing houses or flats. Over the years, it has become much easier to get a tenant loan.
You do not have to have any collateral in order to receive a tenant loan. As the borrower, you do not have to offer up anything in return for the loan. This, of course, makes it unsecured. However, even that is preferable when you are in dire need of a loan.
All the same, they are unquestionably advantageous. The best part is that all different types of renters qualify. Most notably, if you are a PG tenant, a council tenant, an MOD tenant, a housing associate tenant, or if you rent a room in your parents' home but do not own it yourself, you can get a tenant loan.
As with most everything else, however, there is a catch. In this case it is more like some qualifications you have to meet to be eligible. For instance, you need to have plenty of financial aid. Specifically, you need to be able to take care of your living expenses. This could mean being able to buy a car or to qualify for debt consolidation.
You also need to be at least eighteen, if not older, to qualify. You should be gainfully employed in a full time job, at which you make at least a thousand pounds. Not only do you need to have a checking account, but it needs to be a valid one with Direct Debit. You also need to be able to prove that you have lived at your current address for no less than twelve months.
One of the nice things about an unsecured tenant loan is that they are available to people with less than perfect credit histories. Most lenders of tenant loans have come to understand that they much be more realistic and their requirements of who they will land too.
As a consequence of this economic reality short-term money is more easily available to tenants in the UK. Your chances for approval are excellent.
posted by Credit Counseling at
6:39 AM
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