Tenant Loan

A Tenant Loan is an Unsecured Loan for people who do not own their own property, i.e. they are council tenants, housing-tenants, or living with parents.

How much can I borrow?
Loan amounts vary and range from between £1,000 to £50,000.  Repayment terms are between 1 to 25 years, depending on your Loan requirement and ability to repay.

What can a Tenant Loan be used for?
The Loan can be used for any purpose, including;

• Debt Resolution
• Home Improvement
• Educational costs
• Buying a car

Pros of a Tenant Loan;

• no risk of repossession
• the Loan can be used for many purposes
• the Loans are available to borrowers with bad credit
• regular payments to a Tenant Loan can improve your credit rating

Cons of a Tenant Loan;

• shorter loan terms
• higher interest rates
• lower Loan amount offered

Shop Around
As with any other type of loan, it’s important to shop around for a Tenant Loan.  Terms differ greatly between each product and lender so it’s advisable to compare several products before choosing the right one for you.

Do you have bad credit?
Tenant Loans are available to people with a less than perfect credit history.  The risk for the lender is greater so the borrower may find themselves paying higher interest rates.