Tenant loans, like unsecured loans and personal loans, are loans that require no security to be provided to the lender. In the case of secured or homeowner loans, the borrower provides a valuable asset against which the loan is secured – usually their home. As tenant loans do not require this, they are well suited to non-homeowners, or those that wish to borrow without the danger of losing their home. Tenant loans are widely available for amounts up to £25,000 for almost any purpose. When comparing tenant loans between lenders, check the typical APR; however, be aware that the greater risk you present as a tenant loan candidate, the higher the APR you may be offered, in order to alleviate the risk on the behalf of the lender. Many factors affect your associated risk as a tenant loan candidate; namely your personal history of borrowing. As a result, if you have a poor credit rating, you may find that a secured loan offers a more affordable borrowing solution.
To compare tenant loans within the UK market, complete the form on this page. TotallyMoney will search and compare the best tenant loan rates available, and connect you with an independent tenant loan expert for advice tailored to your specific circumstances. It’s fast, free and there’s no obligation.