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Tenant LoansUnsecured LoanThe main loan option open to a tenant is an Unsecured/Personal Loan. This is a loan which is not secured on property, unlike a Secured or Homeowner loan. An Unsecured loan allows you to borrow money without offering security in return to the lender, but you are still liable to repay the loan. Because of the risk to the lender, a Personal or Unsecured loan is generally more expensive than a Secured loan and it can also be more difficult to find if you've had problems with your credit record, or if you've just started work. Your loan application will be judged on your ability to repay the loan - your earnings and bank and credit history will be important. However, there are lenders who specialise in offering competitive rates to tenants and those with a bad credit history. On the positive side, an Unsecured Loan can be arranged with the minimum of paperwork and can also be paid out much more quickly than a Secured Loan, as there is no need to wait for a survey or valuation of property. In some cases, it's possible to get the money paid out within a day or two. The maximum Unsecured Loan is £25,000 with repayment terms usually from 12 to 84 months. Click here to find a non-homeowner loan now with our easy enquiry formClick here to find out about a loan for HM Forces now with our easy enquiry form Easy to apply online Interest rates - variable or fixed? When you are looking for a loan, Secured or Unsecured, you should ensure
that you don't borrow more than you can comfortably afford to repay.
Generally, the larger the amount you borrow, the lower the interest rate will be. Ensuring your monthly payments remain the same can help with your budgeting,
so if the loan you are offered has a 'fixed' interest rate, it means
your payments will remain the same throughout the term of your loan,
regardless of any rises or falls in the bank's base interest rate. If the loan has a 'variable' interest rate then your monthly payments may alter with any changes to the bank's interest rate. This can be an important factor at the moment, with the rising interest rates. Before you take out any loan make sure that you know exactly what your monthly payments will be, for how long, and whether they are fixed or variable, and how much you will pay back in total. Think carefully before you take on extra credit or consolidate your loan - it may be tempting to borrow more, but you should always carefully work out your budget before committing. Ask yourself how you'd cope if your financial circumstances changed, for example if you lost your job, had your overtime or bonus reduced or became ill? Is there an alternative to a loan - can you reduce your outgoings and/or increase your income? Click here to applyLoan site is a Limited company based in Cardiff, UK. We are registered under the UK Data Protection and Consumer Credit Acts. Bad Credit Loans
for Homeowners
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME - YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Our typical APR is 21.9% Variable. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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