Tenant Loans Articles
Loans Guide
Many people are confused by the different types of loans available.
Here is a helpful loans guide of the most common loans available
today.
Bad Credit Personal Loan
A Bad Credit Personal Loan is a loan designed for the many
people with a bad credit rating. However created, your past record
of County Court Judgements, mortgage or other loan arrears can live
on to deny you access to finance that other people regard as normal.
If you are a home owner with equity in your property, a Bad Credit
Personal Loan can bring that normality back to your life. Secured
on your home, a Bad Credit Personal Loan can give you the freedom,
for example, to do the home improvements or buy the new car you
really wanted.
With a Bad Credit Personal Loan you can borrow from £5,000 to £75,000
and up to 125% of your property value in some cases.
Bridging Loan
A bridging loan as the name implies is a loan used to “bridge”
the financial gap between monies required for your new property
completion prior to your existing property having been sold.
Bridging loans are short term loans arranged when you need to purchase
a house but are unable to arrange the mortgage for some reason,
such as there is a delay in selling your existing property.
The beauty of bridging loans is that a bridging loan can be used
to cover the financial gap when buying one property before the existing
one is sold
A bridging loan can also be used to raise capital pending the sale
of a property.
Bridging loans can be arranged for any sum between £25000 to a
few million pounds and can be borrowed for periods from a week to
up to six months.
A bridging loan is similar to a mortgage where the amount borrowed
is secured on your home but the advantage of a mortgage is that
it attracts a much lower interest rate.
While bridging loans are convenient the interest rates can be very
high.
Business Loan
A business loan is designed for a wide range of small,
medium and startup business needs including the purchase, refinance,
expansion of a business, development loans or any type of commercial
investment.
Business loans are generally available from £50,000 to £1,000,000
at highly competitive interest rates from leading commercial loan
lenders.
A business loan can be secured by all types of UK business property,
commercial and residential properties.
Business Loans can offer up to 79% LTV (Loan to Valuation) with
variable rates, depending on status and length of term.
Business loans are normally offered on Freehold and long Leasehold
properties with Bricks and Mortar valuations required. Legal and
valuation fees are payable by the client.
Car Loan
The main types of car loans available are Hire Purchase and Manufacturer's
schemes. Hire purchase car finance is arranged by car dealerships,
and effectively means that you are hiring the car from the dealer
until the final payment on the loan has been paid, when ownership
of the vehicle is transferred to you.
A Manufacturers' scheme is a type of loan that is put together
and advertised by the car manufacturer and can be arranged directly
with them or through a local car dealership. You will not be the
owner of the vehicle until you have repaid the loan in full, and
the car will be repossessed if you default on repayments.
Cash Loan
Cash Loans also known as Payday Loans are arranged for
people in employment who find themselves in a situation where they
are short of immediate funds.
A Cash Loan can assist you in this situation with short term loans
of between £80 and £400.
Loans are repayable on your next payday, although it is possible
to renew your loan until subsequent paydays.
To apply for a Cash Loan you must be in employment and have a bank
account with a cheque book. A poor credit rating or debt history
is initially not a problem.
Debt Consolidation Loan
Debt consolidation loans can give you a fresh start, allowing
you to consolidate all of your loans into one - giving you one easy
to manage payment, and in most cases, at a lower rate of interest.
Secured on your home debt consolidation loans can sweep away the
pile of repayments to your credit and store cards, HP, loans and
replace them with one, low cost, monthly payment – one calculated
to be well within your means.
With a Debt Consolidation Loan you can borrow from £5,000 to £75,000
and up to 125% of your property value in some cases.
It can reduce BOTH your interest costs AND your monthly repayments,
putting you back in control of your life.
Home Loan
A Home Loan is a loan secured on your home. You can unlock
the value tied up in your property with a secured Home loan.
The loan can be used for any purpose, and is available to anyone
who owns their home. Home loans can be used for any purpose such
as, home improvements, new car, luxury holiday, pay of store card
or credit card debt and debt consolidation.
With a Home Loan you can borrow from £5,000 to £75,000.
Home Improvement Loan
A Home Improvement Loan is a low interest loan secured
on your property.
With a Home Improvement Loan you can borrow from £5,000 to £75,000
with low monthly repayments.
The loan can be repaid over any term between 5 and 25 years, depending
on your available income and the amount of equity in the property
that is to provide the security for the loan.
A Home Improvement Loan can help you with a new kitchen, bathroom,
extension, loft conversion, conservatory, landscaping your garden
or new furniture. You can even use it on non-house expenditure like
a new car or repaying credit card or other debts.
Home Owner Loan
A Home Owner Loan is a loan secured on your home. You can
unlock the value tied up in your property with a secured Home Owner
loan. The loan can be used for any purpose, and is available to
anyone who owns their home. Home owner loans can be used for any
purpose such as, home improvements, new car, luxury holiday, pay
of store card or credit card debt and debt consolidation. With a
Home Owner Loan you can borrow from £5,000 to £75,000.
Payday Loan
Payday Loans also known as Cash Loans are arranged for
people in employment who find themselves in a situation where they
are short of immediate funds.
A Payday Loan can assist you in this situation with short term
loans of between £80 and £400.
Loans are repayable on your next payday, although it is possible
to renew your loan until subsequent paydays. To apply for a loan
you must be in employment and have a bank account with a cheque
book. A poor credit rating or debt history is initially not a problem.
Personal Loan
There are two categories of personal loans: secured personal
loans and unsecured personal loans – See individual titles below.
Homeowners can apply for a Secured personal loan (using their property
as security), whereas tenants only have the option of an unsecured
personal loan.
Remortgage Loan
A remortgage is changing your mortgage without moving your
home. Remortgaging is the process of switching your mortgage to
another lender that is offering a better deal than your current
lender thereby saving money. A remortgage can also be used to raise
additional finances by releasing equity in your property.
You can borrow from £25,000 up to £500,000. Rates are variable,
depending on status.
Secured Loan
A secured loan is simply a loan that uses your home as
security against the loan. Secured loans are suitable for when you
are trying to raise a large amount; are having difficulty getting
an unsecured loan; or, have a poor credit history. Lenders can be
more flexible when it comes to secured loans, making a secured loan
possible when you may have been turned down for an unsecured loan.
Secured loans are also worth considering if you need a new car,
or need to make home improvements, or take that luxury holiday of
a lifetime. You can borrow any amount from £5,000 to £75,000 and
repay it over any period from 5 to 25 years. You simply select a
monthly payment that fits in your current circumstances.
Secured Personal Loan
A Secured Personal Loan is simply a loan that is secured
against property. Secured personal loans are suitable for when you
are trying to raise a large amount; are having difficulty getting
an unsecured personal loan; or, have a poor credit history. Lenders
can be more flexible when it comes to Secured personal loans, making
a Secured personal loan possible when you may have been turned down
for an unsecured personal loan. Secured personal loans are also
worth considering if you need a new car, or need to make home improvements,
or take that luxury holiday of a lifetime.
You can borrow any amount from £5,000 to £75,000 and repay it over
any period from 5 to 25 years.
Student Loan
A student loan is way of borrowing money to help with the
cost of your higher education. Applications are made through your
Local Education Authority. A student loan is a way of receiving
money to help with your living costs when you're in higher education.
You start paying back the loan once you have finished studying,
provided your income has reached a certain level.
Tenant Loan
A tenant loan is an unsecured loan granted to those that
do not own their own property. A tenant loan is always unsecured
because in most cases, if you are renting your accommodation, you
do not have an asset against which you can secure your loan. Tenants
sometimes find that some loan companies will only lend money to
homeowners. If you are a tenant you need to look for a company,
bank or building society willing to give you an unsecured loan.
Unsecured Loan
An unsecured loan is a personal loan where the lender has
no claim on a homeowner's property should they fail to repay. Instead,
the lender is relying solely on the ability of a borrower to meet
their loan borrowing repayments.
The amount you are able to borrow can start from as little as £500
and go up to £25,000. Because you not securing the money you are
borrowing, lenders tend to limit the value of unsecured loans to
£25,000.
The repayment period will range from anywhere between six months
and ten years. Unsecured loans are offered by traditional financial
institutions like building societies and banks but also recently
by the larger supermarkets chains.
An unsecured loan can be used for almost anything - a luxury holiday,
a new car, a wedding, or home improvements.
An unsecured loan is good for people who are not homeowners and
cannot obtain a secured loan for example; a tenant living in rented
accommodation.
Unsecured Personal Loan
An Unsecured personal loan is a personal loan where the
lender has no claim on a homeowner's property should they fail to
repay. Instead, the lender is relying solely on the ability of a
borrower to meet their loan borrowing repayments.
The amount you are able to borrow can start from as little as £500
and go up to £25,000. The repayment period will range from anywhere
between six months and ten years. An Unsecured personal loan can
be used for almost anything - a luxury holiday, a new car, a wedding,
or home improvements.
An Unsecured personal loan is good for people who are not homeowners
and cannot obtain a secured loan for example; a tenant living in
rented accommodation. |
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