Tenant Loan

Our Online Loan Buys *

	Typical APR	Per Mth
	8.5%	£203.65
	8.6%	£204.10
	8.6%	£204.10
	8.7%	£204.55
	9.1%	£206.15
* Based on £10000 over 5 years and is not a full search of the whole market

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As a tenant you may think you will have problems arranging a large loan. However, many lenders do offer tenant loan facilities to those who don't have assets to secure against their debt.

A tenant loan is an unsecured loan, which means you will not be pledging property against your debt, so the interest rate will be higher than a secured loan as there is more risk for the lender. But this doesnt mean there arent some decent tenant loan deals around.

There are hundreds of tenant loans on offer so do your homework to find the best deal for your circumstances.

The rate your lender offers will depend on your circumstances, such as your credit history, salary, and age and, of course, the sum you wish to borrow and the time period. But in general you may compare tenant loan rates using the lender's typical APR.

Before taking out a tenant loan, check that you can meet the cost of repayments as failure to do so could seriously affect your credit rating.

Last Updated: May 2007 © Moneyextra.com

MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.