As the name suggests, tenant loans aim to help non-homeowners. The amount of money that you borrow as a tenant is called a tenant loan. In times gone by, it was hard to qualify for a loan as a non-homeowner. The lending industry used to follow strict lending criteria that did not include tenants. It was a must for a borrower to be a homeowner.
Now the lending industry has introduced flexibility, and therefore you can easily qualify for the loan even if you do not own a house. Tenant loans in the UK are unsecured loans. It means you do not need to pledge any valuable assets. Tenant loans are small loans, and therefore, they can fund your small needs only.
FocusLoans offers these loans up to £10,000 for a period of three years depending on your repaying capacity and creditworthiness. Borrowing money from us is exceptionally smooth. It will not require you to go through the hassle.
Applying for tenant loans is very easy. All you need to do is to fill in the application form online. Once you do this, we will quickly analyse your application. If it meets our lending criteria, we will ask you to submit your income documents to check your affordability. If everything goes fine, we will disburse money within a couple of minutes. Note that you must meet the following conditions to qualify for these loans:
When it comes to borrowing money, it is crucial to know the good purpose for which they have been designed. For instance, personal loans, not credit cards, are an ideal choice to fund your wedding. To ensure that you use the right type of loan for your need, you should understand the purposes for each type of loan. Here are the reasons why you may need to apply for a tenant loan:
We try to include all the major categories of the applicants, as our sole purpose is to include as many as possible. The beneficiaries we serve are –
In short, all and anyone who does not own the house privately can apply for tenant loans.
If you do not own a house and have a credit rating, you may think you do not have any options. FocusLoans offers tenant loans to borrowers with bad credit rating too. A good credit report indeed improves your chances of having the loan approved, but FocusLoans does not find a reason to stop you from accessing funds just because of a low credit rating. Although your credit score matters to make a decision, a decision is made by taking into account your current and futuristic financial condition.
We have a promising range of loan deals on the tenant loans for bad credit with the following simple conditions.
In case of consistent poor credit situation, you can provide a guarantor. Apply to us through our tenant guarantor loans for bad credit people. Your guarantor should have a good credit score and should not be more than 60 years in age.
Note – We provide more relaxation in rates while customising deals if you have an inconsistent poor credit situation.
When you apply for a loan, lenders usually run a credit check. It leaves hard footprints on your credit report that pulls your score by five points. We understand that you will never favour a hard credit check, especially if you already have a bad credit rating. To help you borrow funds without any anxiety we have no credit check facility. It lets us get to know about your creditworthiness without dinging your credit score.
A soft credit check does not leave hard footprints on your credit file. We emphasise your current income and affordability more than your past payment record. Be stress-free while putting in the application. We will not lose your credit score if you apply for bad credit tenant loans with us.
You can come up with an emergency when you have lost your job, and you do not have enough money in the emergency cushion. Most of the mainstream lenders do not entertain applications from the unemployed. We understand that you may need money urgently, therefore, accept applications from the unemployed.
You will have to prove that you can afford to pay back the debt to qualify for the loan. Unemployment benefits, freelance income, and side gig will be considered your income when you are out of work. Apply for a tenant loan with us even if you are jobless. We will lend you money as long as you can afford to pay it back.
Focus Loans is destined to serve to all your financial concerns with no hassle. We try our best to serve any of your purposes well.