New to the city? Do not own a property in the city you are working? Are you a tenant and you need urgent cash to manage your emergency needs? Do not worry, now borrowers and financial institutions in the UK are offering unsecured tenants loans to fulfill their financial need. These loans are unsecured, so that the borrower (who had once hard time getting loans as tenants) can now get loans without pledging collateral.
There is a minimal set of eligibility criteria that applicant must meet to receive the loan that includes, he or she must be a permanent UK citizen with more than 18 years of age. The applicant must have a permanent job or a permanent source of income in the same city and a active valid bank account for at least last three months. Tenant loans can be applied online as well, since there is no credit check, people with bad credit, IVA, defaulters, CCJs can also apply for this. But the only disadvantage with this is that the interest rate is quite high as there is no security and the lender is at a high risk.
While there are variety of deals offered all over the internet a little searching job can land the applicant to a better deal. There is no fuss in applying and sanctioning of the loan which can be from £1000 to £25000, and this can be repaid in a flexible time period of 1 year to 25 years. The amount sanctioned depends upon the need, repayment capacity and income from the job.
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