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Tenant Loans – Effortless Monetary Aid

Banks and other financial institutions typically take a lot of time in sanctioning the loans for tenants or non home owners as they are considered risky. This results in delay and at times the whole purpose of taking a loan is crushed. Private lenders realized this fact and have introduced loans specially designed for tenants. These loans are called Tenant Loans.

A tenant seeking a loan can use the money obtained for any purpose he wishes such as home improvement, debt consolidation, school or college fees, credit card bill etc. without any interference from loan provider. All he is concerned about is timely repayment of the loan amount.

To avail tenant loans there is no need to mortgage an asset. Thus the lender takes a risk with his money and this is the reason of marginally higher interest rate. Since these loans are unsecured, loan seeker has to provide a proof of employment, his salary slip and bank balance of previous few months.

The essential qualifications that need to be fulfilled to benefit from this lending scheme are:

* Should be the citizen of UK,
* Must be at least 18 year or above,
* Must have a job with monthly income of £1,000 that guarantees repayment ability.
* Must have a bank account in UK.

Persons who have bad credit history because of late or skipped payments, CCJs, defaults etc. too are eligible for this finance programme. Not only this, even homeowners who don’t wish to take the risk of losing their house are entitled for advance under this proposal.

UK rules and regulations permit its citizens to take a tenant loan in a range of £10000 to £25000. This sum has to be returned within a period of 6 months to 10 years. The terms and conditions can be fixed at the time of signing of the agreement.

Perhaps you must be wondering about the complications in the application process. You will be surprised at the simplicity and the swiftness of the complete process. A potential customer has to fill an easy online application form which is available on lender’s website with personal and professional information and submit the form. After receiving the application, lender verifies the information provided and without wasting any time the money is credited into borrower’s bank account.

Denile Haden is an advisor of No Credit Check Tenant Loans. For more information about tenant loans no credit check,no credit check finance visit http://www.nocreditchecktenantloans.org.uk