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Being a tenant is just like compromising with certain facilities as well as some fundamental rights. When considered with respect to a loan, the discrimination is rather clear as well as quite distinctive. But this used to be a common scenario a few years back but it’s not the same today. Fast cash tenant loan is a step forward in the direction of eliminating the unevenness between the privileges entertained by homeowners as against the tenants.
Fast cash tenant loan are tailor made for the tenants but the students and the people who live with their parents can also apply. It requires no credit check, so people suffering from bad credit record, late payments, missed payments, CCJs, defaults are also eligible for these loan.
These loans are unsecured loans. The unsecured loan lenders do not require any collateral against the loan. The loan amount varies from £500 to £10,000. Approval of this loan is done based on the borrower’s repayment ability. The repayment tenure can be long term as well as short term but it cannot be more than 25 years. The rate of interest is low with these loans; therefore, the tenant can easily repay the loan amount.
To be eligible for this loan a borrower should be a UK citizen of at least 18 years of age with at least 6 months old current bank account, regularly employed with a proof of employment for at least 6 months, must live in the same address since last 3 months.
To avail fast cash tenant loans a borrower need to apply online which require minimum paper works for approval and only need to fill an online from with the required details and submit. After submitting the form, verification will be done online and through telephone; so approval is fast and the loan amount is transferred to the borrower’s bank account within 24 hours.