Is the absence of an asset stopping you from applying for a loan to fulfill your needs? if your answer is in the affirmative, you need not continue this. It is now possible to take up loans without pledging home as assets and that at affordable rates. This is possible through tenant loans.
Tenant loans are available to people who are not living in their own house. They are available to council tenants, private tenants, house association tenants, etc. Even those adults who are living in their parent's house can take up tenant loans to fulfill their needs.
Tenant loans are basically short term loans that can be borrowed without pledging collateral with the lender. This is the main benefit of tenant loans and makes this opportunity open for even those borrowers who do not own any assets, like tenants and non-homeowners.
Tenant loans do not require any collateral to be pledged with the lender and this poses a risk for him in relation to the repayment of the tenant loans amount. Therefore to cover the risk factor involved here, the lenders charge a slightly higher rate of interest from the borrowers.
Through tenant loans, an amount in the range of £1000-£25000 can be borrowed by the borrowers to fulfill needs. The borrower is required to repay the tenant loans in a term of 6months to 10 years. The money may be put to any use like debt consolidation, home improvement, car purchase, wedding expenses, going on a vacation, educational funding etc.
Bad credit borrowers not owning assets can also take up tenant loans. Although they will be charged a higher rate due to risk involved, affordable deals can be obtained by proper research and comparison of the loan deals that are available to the borrower. This research can be best conducted online.
Tenant loans have opened up a new way for the non-asset owners to take care of their needs and the repayment also has been made very comfortable for them.
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