Instant Tenant Loans: a Relief to Non-homeowners

By: Ray Bretly

 If you observe the loan market, then will get to see that there are several kinds of loans that are designed and made for a particular type of borrowers. Your demand, situation and conditions will decide what kind of you should go for. In that context the instant tenant loans are the one that can be mentioned as these are designed only for the tenants who do not have their own home.

As the name suggests, the instant tenant loans are provided to the tenants and non-homeowners. These are therefore, unsecured loans where no collateral is required. However, if you have your own home too, you can opt for these loans as these have no particular restriction regarding that. Such tenant loans are often instant where money gets dispatched mostly in the same day of applying.

Money offered in the instant tenant loans ranges from £1000 to £25,000 as these are short term loans here you will get a repayment term of 1 to 10 years for the whole amount back along with the interest. The rate of interest however, is a bit high as these are risk free loans. You therefore, can go for the online lenders who are available and willing to offer you the best loan with all suitable terms and conditions. The rate of interest in such loans gets decreased to a good extent.

If you are a tenant with bad credit record you can also take up the instant tenant loans. These are loans are made to be suitable for everyone. Therefore, bad credit records like late payment of installments, CCJ’s, bankruptcy, late payment, skipping of installments or arrears etc do not matter much and you will be allowed to take up the instant tenant loans without any obligations.

Certain information has also to be submitted in order to receive an instant tenant loan. If you are above 18 years of age with regular employment and residential proof, then your way to the instant tenant loans is paved straight.

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