Poor Credit Tenant Loans: a Bonn in Guise for Tenants

By: Mathew Kenny

It's cumbersome for a person to avail a loan if he is not having any personal property to place as security against the loan amount. His plight seems to be aggravated if he suffers from bad credit. Keeping in mind such persons lenders have introduced a special kind of loan called poor credit history tenant loans. Now even if you are suffering from a bad credit status and don't have any personal property you can avail poor credit tenant loan to avail good amount of money for your urgent requirements.
A person can be called bad creditor due to arrears, defaults, CCJ, IVA, bankruptcy, late payments etc. Poor credit tenant loans can be availed by tenants, paying guests etc. These can also be availed by homeowners suffering from poor credit history.

You don't need to place any collateral against the loan amount in order to avail poor credit tenant loans. Being unsecured in nature, poor credit rating tenant loans carry slightly higher interest rate compared to other loans, but that too is not much because of the fierce competition existing in the market. With poor credit rating tenant loans you can avail an amount ranging from ?200 to ?25000. The repayment duration of poor credit tenant loans ranges from 1 - 10 years.

You must have a regular source of income and full time job in order to avail these loans. You will have to show your job proof and details of last three pay slips to the lender. You must be at least 18 years of age to be eligible to avail poor credit rating tenant loans. Also you should have resided at your current residence for a period of 6 months or more. Poor credit tenant loans are easily available through physical lenders and through online method.

Poor credit tenant loans are very beneficial for non homeowners. They can be used for any purpose like vacation, paying debts, debt consolidation, wedding etc. Bad credit borrowers can improve their credit score by regular payments of loan installments. Poor credit tenant loans are truly a lifesaver for tenants suffering from bad credit history.

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