Non Homeowner Loans : Loan Without Home

Non homeowners might think they are at a disadvantage as getting a loan will be difficult. This is no longer true. On searching the net you will be amazed at the number of loan providers granting loan to non homeowners. Infact many home owners too are opting for these loans as they do not want to risk their property.

Non homeowner loans are unsecured loans. Hence, in this credit scheme an applicant need not present collateral. Given that these are unsecured in nature, lenders offer an advance in the range of L100 and L1500. This amount, along with interest and other charges will have to be paid back within 14 to 31 days.

All British citizens are entitled for this credit plan. Minimum age of the prospective client should be 18 yrs since according to the laws of Britain anyone below the age of 18 cannot get into financial agreement. Further, the loan seeker should hold a job in a reputed company and drawing a salary of more than L1000. As a proof of his employment he will be required to show a certificate from his existing employer. Another qualification that has to be fulfilled by loan seeker is that he should have an active bank account.

The interest rate charged is moderately higher when weighed against secured loans. Interest rate are fixed on the basis of credit profile, down payment, amount needed, loan tenure and market conditions.

Nearly all lenders have their own websites. You will be able to find all related information on these websites. Application forms too are available which can be filed without any hassle. If need be, lenders will help you in filling the form though in all possibilities help will not be required. After sending the application online, loan lending company will process your application. Once they are satisfied, the amount will automatically get deposited into your bank account.

Loan seeker is at full liberty to use this amount as and when he wishes. He can use the money for education purpose, vehicle repair, paying utility bills and much more.

Borrowers having poor credit status too are granted this loan. A person is marked with poor credit because of CCJs, arrears, foreclosure, delayed payments, repossession, and bankruptcy.

Calvin Mark is author of Non Homeowner Loans. For more information about Unsecured Tenant Loans, cheap loans for non homeowner visit http://www.nonhomeownerloans.me.uk