Tenant loans for non homeowners. Information and access to hundreds of loans from leading lenders.

Tenant Loans

Tenant loans are another name for unsecured personal loans. Tenant loans are for people who do not own property, and so have nothing of high value to use to get a secured loan. In the past it was hard for people who did not own property to get a decent level of credit, but over the last few years that has changed, especially with the emergence of online lenders such as 24 Hour Loans.

Getting a tenant loan is quicker and easier than ever, and you can often get a decision within 24 to 48 hours, with pre-approval taking a matter of minutes.

Where to look for tenant loans?

The best way to find a good tenant loan, as with all loans, is to shop around. Although there are many specialist tenant lenders, other online lenders and general lenders also offer good deals. The more places that you look at, the more likely you are to find a deal to suit you.

What are typical repayment options?

Depending on your credit history and current financial situation, tenant loans allow you to borrow anything from £1,000 to £50,000 and repay this amount over 1 to 25 years. However, the usual range for tenant loans is between £1,000 and £10,000 with a repayment period of 2 to 7 years. Although interest rates are generally higher than secured loans due to the lack of collateral, interest rates are getting lower and lower as the competition increases, with companies like 24 Hour Loans offering variables rates as lower than 8% in some cases.

What should I think about?

Before applying for a tenant loan, think about what you want to use it for and how much you can afford to borrow. You should weigh up the benefits of borrowing this money against the amount that you will have to repay. If you are honest with yourself now you will avoid financial problems and possible arrears in the future.

How do I apply?

Applying for a tenant loan is very simple, especially if you apply online or over the phone. Once you have filled in the necessary financial information, you can usually get a quote straight away and perhaps even pre-approval. Once final checks have been carried out and you agree to the terms and conditions, you can get your loan straight away.