They are those advances given to people who do not have their own house or any security to place. They are unsecured advances. They are for people have poor financial status. They can be useful to pay off your past debts. You require these funds for any of your personal use. They can be used for adding rooms in your house, purchasing a boat, starting a new business, and so on.
Bad credit tenant loans offer you an amount ranging from 200 to 25000. The amount has to be repaid within 1 to 10 years. Even if you have a poor financial status, you can avail this finance. You do not place collateral or guarantee. Online applying can save you time and fuel. The only disadvantage in this finance is that you have to pay a high rate of interest. If you do not have repaid on time, you have to pay high fees or penalties.
You should be eligible to avail this facility. The eligibility criteria are that the applicant should have a valid and active bank account, should be above the age of 18, should be a citizen of UK and should have a regular source of income.
If you feel that you will waste a lot of time in availing this finance then you have a choice to go for the online method. You have to fill the form with the relevant details. The financial executives after properly checking the details approve the finance. The amount is directly transferred to your account.