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Tenant Loans - It's good to Live on Rent

Many people in the UK are living on rent, either privately or from housing association or social landlords, with their family. They do not have their own property or home and thus, cannot apply for a loan with pledging collateral. To finance their needs, tenant loans are offered as the unsecured lending solution by the reliable direct lender.

Also referred to as the non-homeowner loans, borrowers can apply for them on the basis of these factors:

  • Past credit record
  • Monthly income source
  • Amount of risk involved

If approved, borrowers can obtain the amount from £1000 to £15,000. At First Choice Finance (FCF), we provide a number of tenant loan features in which some of them are mentioned below:

  • Easy-to-repay schedule
  • People living on rent with their parents or accommodation provided by their employers, both can qualify
  • Poor credit record is acceptable
  • Interest rates are nominal
  • Online loan application with minimum documentation

Do I Need a Guarantor for Tenant Loans?

Not necessary. There is no denying the fact that most of the people hesitate to take the loan guarantee of the people living on rent. Lack of trust might be a reason or anything else but problem does exist when the lender requires a guarantee to assigning the loans for tenants.

Providing the guarantor invites several kinds of benefits for the borrowers. For example, the rates of interest suddenly calm down and borrowers have the chance of asking for large amount. These may be the reasons why the lenders have seen the sudden increase in the numbers of applications coming in the name of guarantor loans for tenants. You provide the guarantor and instantly, you get the guaranteed approval because the lender has the assurance of loan repayment.

You do not need to waste time in tedious paper-based loan application. Instead, it is totally an online procedure where you just require filling out an application form on this website with necessary details like age, contact information, amount to borrow and income status. Once filled and submitted, we will hardly take a few minutes to reviewing your application and allow the disbursal of funds on the same day basis. We assure you that the interest rates on guarantor loans for tenants will feel you comfortable to pay.

FCF, as being a new-age lender, is always in favour of doing experiments in the finance products, of course, for the borrowers' maximum benefits. For the purpose, we are ready to accept the applications on loans with tenant as guarantor is allowed. In the era, where many lenders are still accepting only those people as the guarantors, who are the homeowners, we give the liberty to choose a renter as your co-signer.

What Benefits FCF Offers with its Non Homeowner Guarantor Loans?

These loans are perfect for those individuals, who have their guarantors but not owing any property. In the UK, the numbers have significantly increased of the non homeowners and so does their financial difficulties. With limited income status, they are sometimes bound to become for the loans and their chances are bright if they have a guarantor no matter living on rent or not.

Here are some of the benefits we provide alongside loans with non homeowner as guarantor:

Consolidate your debts easily: Having multiple debts causes badly and if you are a tenant, then it will bring more chaos. When you apply for these loans, you can merge all the pending debts into a single loan and with a single interest rate. Moreover, these loans can be beneficial as you can pay your rent 6 months in advance and manage monthly income on your regular or irregular financial expenses.

Approval on Immediate Basis: Days, weeks and months are just wasting your time in getting approval for a loan. We, on the other hand, provide you loans on the instant decision. Our online application system helps you a lot in it and surely, you can see yourself qualify for an early fund transfer. Irrespective of your past financial record, we will consider your current status in repaying the borrowed sum either from you or your guarantor.

Facility of Bad Credit Tenant Loan: One more entry to our unsecured tenant loan is the arrangement for people with bad credit scores. Living on rent does have some financial constraints and a poor credit score is indeed its consequence. You may not have a personal property and a good credit score, but the presence of the co-signer is enough to get the approval on non homeowner guarantor loans from direct lenders. In addition, you have a chance of starting once again building a credible credit score along with much improved financial status.

If you are one of those tenants in the UK, who need an essential financial help, then try our tenant loans. These are easy to get with no obligations involved and minimum conditions to qualify. Apply now!