Unsecured Loans
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Unsecured loans or tenant loans are finance for people who rent property whether they be council tenants or housing association tenants or for people who live with their parents or friends. They do not have a home to offer as security on the loan so unsecured loans come with higher rates than secured loans.
The chances of having an apllication approved , the terms available and the rates charged on the unsecured loan will improve if:
- You have lived at your current address for a year.
- You have current employment.
- You have your own bank account.
- You have a good credit file, with no adverse history.
- You can be shown to be a regular and consistent payer.
- You have savings to which you make regular contributions.
Unsecured Loans are also known as Tenant Loans
- Unsecured loans are a simple route to generating finance.
- Unsecured loans don't cost as much as using consumer credit facilities.
- Finance raised from an tenant loan can be used for any purpose.
- An Unsecured Loan can be used for debt consolidation.
- Unsecured Loan terms are typically from 3 to 25 years.
You need finance and have decided a unsecured loan will meet your requirements. There are some simple tips that can improve you chances of being approved while helping you to save money.
