Representative APR Example
£350 borrowed for 30 days. Total amount payable by one repayment: £434.
Total interest payable by one repayment: £84. Representative APR 1223.6% (Variable)
Loan
£0
Period
0 Day(s)
Interest : £0
Repayment : £0

Unsecured Loans for Tenant: Risk Free Money for Teenager Articles

18 June 2009

Obtaining a loan in present scenario is a cakewalk to homeowners but things get a bit murkier for tenants to attain usual loans. To ease them and extract the customer base inclusive of tenants, unsecured loans for tenant have been designed. These loans serve one with cash when he is stung by the deficiency of the same.

Features and uses of loan

Tenant can use this loan for various purposes like purchasing a brand new car or bike, going for an exotic holiday, consolidating debt, buying a new flat or apartment, expenses in your dear ones wedding, etc. As stated earlier unsecured loans for tenants fall under category of unsecured loan, so you need not have to put anything as collateral here. But as lender is at higher risk, the rate of interest is slightly high also the repayment period is shorter. You can procure an amount varying from£500 to £2500.Having a good credit history will help you obtain higher amount. The interest rate lies somewhere between 7.7% APR to 18.3%.Being informed and good groundwork like visiting various lenders will definitely help you in negotiations.

Eligibility and availability

Any type of tenant can apply for this kind of loan. You may be Council tenants, Private tenants, housing association tenants, or even tenants living with parents. In order to get loan you must also fulfill these criteria: you should be in salaried employment presently when yon you go for obtaining loan, You must have resided at your current address for over 12 months, You should have your personal U.K. bank account, having a credit/store card, You have a savings account to which you make regular payments. You can apply for this kind of loan to traditional money lenders or bank, or else you can apply online. Applying online saves your time and it also consumes less processing time. So just fill some simple forms and you have applied for loan.

Summary

Unsecured loans for tenant do not involve any sort of collateral. Sufficient amount is disposed with this scheme at considerable rate of interest and comfortable repayment tenure. This loan is easy to get and also the processing time it takes is very less.

The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a payday loan with one of our carefully selected panel of leading Payday Loan Lenders in UK. The personal, financial and employment information that we collect is stored electronically during the duration of the application and is removed from our system upon acceptance from the lender.

We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayment, please do not apply with us in the first place. It is not worth risking your credit rating for such a small amount.

PLEASE READ TERMS & CONDITIONS OF LENDERS OR BROKERS BEFORE PAYING ANY UPFRONT FEES.

Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions

Warning: Failure to meet your repayments can have serious financial consequences. For help, go to moneyadviceservice.org.uk