Tennant Loans

UK tenant loans are for people who do not have a mortgage but are council tenants, housing association tenants, MOD tenant or private tenants. As long as you do not own a home, have a job with a fixed regular salary as well as a valid bank account, you should be entitled to a tenants loan. Tenants’ loans are unsecured loans which mean you are not required to have any collateral (assets). In fact if you do not own your home a tenants loan is your only option.

Many people that apply for tenant loans are looking for debt consolidation loans to clear their existing debts. Some people have debts from credit cards, bills, store cards and other existing loans but would rather have one more manageable monthly payment. Other reasons people apply for tenants loans are because they wish to take a much needed holiday, are planning on getting married or need the money for home improvements. UK tenant loans are the only option for people that don’t have the security of collateral.

Like any loan, the amount you wish to borrow will be dependant on what you want the money for and your ability to pay the loan back. If you can prove that your finances are in order and you will not have any trouble paying the loan back, you should be granted a tenant loan without too much trouble. However, because the loan will be unsecured you will have a slightly higher interest rate compared to other loans. If you have a bad credit history the interest rate will be even higher.

You can take out short term tenants loans as well as long term tenants loans, but this will depend on the amount of the loan you require. Acquiring tenants loans is quite a quick and simple process. After application you should know within about 3-4 days at the most if your tenant loan has been approved.

If you are interested in obtaining tennant loan contact ARCH Credit today.  You can either fill out our online form or call us on 0844 800 8594.