Tenant Loans: Asset Free Money for All Types of Tenants

By: Andrew Baker

It becomes a task for tenants to arrange money when they are in need to meet their financial requirements. Absence of collateral makes their problem even more difficult. But with the advent of tenant loans, it has now become very easy to borrow money for the tenants without the hassle of pledging any collateral.

Tenant loans are unsecured personal loans which are borrowed by people who do not have their own houses or any asset for the matter which they can pledge with the lender for collateral. All types of tenants including house association tenants, private and council tenants can borrow tenant loans for their needs. Also, the adults who are living with their parents are also eligible for tenant loans.

Tenant loans can be used for any need that the borrower has, like debt consolidation, car purchase, home improvement, educational needs, wedding expenses, medical procedures, vacation trips etc. For fulfilling these needs, an amount in the range of ?1000-?25000 can be borrowed by the tenants.

The borrower has tenure of 6 months to 10 years for repayment of the tenant loans. The nature of the Tenant loans is unsecured and short term therefore; it involves a great risk of non-repayment of the loan amount. So to cover the risk factor, a higher rate of interest is charged from the borrowers. A lower rate can however be obtained by proper researching for a suitable tenant loans deal.

Tenants who have a bad credit history can also take up tenant loans. The risk is greater in lending loans to them so higher rate is common for covering the risk. Lower rates can be availed by accessing the online mode and researching for loan deals. Comparison of loan deals is easier here and better choice can be made.

With tenant loans well within reach, borrowers need not worry anymore while borrowing money about collateral and risk to assets.

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