Bad Credit Tenant Loans

By: Mathew Kenny

It's difficult to get a loan if you don't have a home to place as security, having a bad credit history makes it even more difficult for a person to avail any kind of loan. Bad credit tenant loans are specially designed for people who don't own home and are also having bad credit history.

BASIC INFO ON BAD CREDIT TENANT LOANS:

Bad credit tenant loans are specially designed for people who don't own a home and are also having bad credit history. This includes people having arrears, defaults, bankruptcy and CCJ's . Bad credit tenant loans can be availed for any of your personal needs like buying a new car, going for a holiday, renovating your home, debt consolidation and so on. The amount that can be availed ranges from ?200 to ?25,000 with a repayment duration ranging from 3 -25 years. To avail a bad credit tenant loan you must be more than or equal to 18 years of age, must have a regular source of income, savings bank account and have lived at your current address for more than 12 months. As these loans are advanced to people having bad credit status, they carry slightly higher interest rate that ranges from 7.7% to 18.3%, the average APR being 10.9 %. The loan amount depends upon all the above-mentioned factors. Bad credit tenant loans can also be availed through online application.

BAD CREDIT TENANT LOANS: ADVANTAGES

Bad credit tenant loans have many advantages. It is offered to people who don't have any personal property to place as collateral and having bad credit status. Bad credit tenant loan helps you correct your mistakes and reestablish yourself. You can avail bad credit tenant loans for purchasing a car, holiday, medical urgencies, wedding etc. considering the fact that bad credit tenant loans are advanced to people having bad credit history, the interest rate is very low. Bad can credit tenant loans can be availed through Internet also.

BAD CREDIT TENANT LOANS: APPLICATION

While applying for bad credit tenant loans you should always look for reputation of lenders in the market and give priority to well known lenders. To find different offers from various lenders you can use Internet. With the use of Internet you can get quotes from various lenders and then go for the one that suits your needs the best. To apply for a loan online you just have to fill up an online application form and the lender will contact in few hours.

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