A tenant is some one whom cannot offer their home as security when applying for a loan. Lenders class this as higher risk resulting in the interest rate being a lot higher than a normal secured loan. Being a tenant you must always keep a good credit history by making all payments on time and in full this will help towards taking out a loan.

A tenant loan can be used for many things, going on holiday buying a car, using it to consolidate all your debts into one easy payment. The repayment period can be anywhere from
3 - 25 years and protected payment plans can provide a extra peace of mind.

The following is a checklist if answer dyed would help greatly towards taking out a tenant loan:

 - You are currently in employed and receiving a regular salary.

 - You have lived at your current address for at least 12 months

 - You have your own bank account

 - You have no CCJ's, rent arrears or a bankruptcy history

 - You have a store/credit card which you keep up regular payments

 - You have a savings account which you place regular payments into

Want more information or would like to take out a tenant loan? Call our advisors free on 0800 1777 497 and get the best loan rates today.