Instant Tenant Loans-chance for Tenants to Get the Benefit

By: Richard Pasic
A Snapshot:

In this era when property matters the most it's a privilege to be a homeowner. There used to be a time when lenders kept on coming with new loans targeting that class of borrowers and that was the time when a tenant felt discriminated. The scenario has changed drastically and the tenants have come in focus. Realizing the fact that tenants constitute a large part of the population the lenders shifted their focus. The market is now flooded with tenant loans and instant tenant loan is one of them. These loans prove to be very helpful in the demanding situations when there is no other way out left.

Facts and Figures:

The loan amount available with instant tenant loans is less compared to other loans. The reason for this may be the absence of tough terms and the fast procedure of sanctioning the loan. A borrower can expect a loan amount ranging between ?3000 and ?25000 with this loan. The repayment period stretches from 6 months to 10 years and is decided at the time of issuing the loan. Since the loan amount is unsecured the interest rate is on the higher side and varies from lender to lender.

Eligibility Criteria:

Any UK citizen aged 18 years and above is eligible to avail instant tenant loans. The loan is available to the customers irrespective of their credit score; the lenders impose some conditions to guarantee the repayment well within the time. The lenders may require the customer to produce the salary statement or any other constraint in order to limit their associated risk.

With instant tenant loans you can buy a new house, renovate your existing property, plan an exotic holiday trip, repay the existing bills etc

Tenant Loans
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