Tenant Loans With Bad Credit - A Perfect Support To Tenants
Bad credit is one of the facts that prove to be as an obstacle in getting yourself approved for a loan
. Tenant loans with bad credit offer financial support to tenants when they are in urgent need of money. These finances accept bad credits i.e. they are available to people with both good as well as a bad credit score. They also help to improve the credit score of the borrower.
They are usually unsecured. The borrower does not have to place any security against the amount borrowed. They can be used for different kinds of expenses such as buying a car, going for a holiday, wedding cost, college fees and debt repayments.
Tenant loans with bad credit offers a moderate amount to the renters ranging from 200 - 25000. They are short term in nature therefore the time period for which they can be repaid ranges from 1 10 years. The lenders charge a high rate of interest on these credits due to the absence of collateral. The borrowers can extend the repayment term by talking to their lender.
The eligibility criteria for availing these finances are as follows:
The borrower must be an adult i.e. 18 years of age and above.
He/she should be a citizen of the UK.
He/she should have a fixed job and a regular source of income.
He/she should have a valid bank account.
He/she must have a proof of his residence address, stating that he/she is staying at the current address for the past 12 months.
These advances are also available online at cheaper rates. The applicant has to fill in an application form giving all the details. The lender examines the application and if the details are found true, the amount of the credit is transferred to the applicants account.