(12PressRelease.com) Having not a home of your own may be troubling sometimes as one cannot get secured loans easily. Moreover, the rate of interest charged for these loans is usually higher than those for the secured loans. While one is living his life, sometimes he may be in need of money to satisfy his urgent expenses like consolidating debts, purchasing cars, pay-off home installments, education fee, exotic vacation expenses etc. as he cannot afford all the expenses from his fixed monthly income. In such a situation, one can look for a loan to satisfy his urgent expenses. But getting a loan is not at all easy for a non-homeowner as most of the lenders deny granting loans to non-homeowners. But, these days‘ non-homeowner loans have been introduced to help those people take a loan who actually do not own a home of their own. These loans are specially meant for the non-homeowners like tenants and students.
Non homeowner loans are those loans that do not require any kind of security to be placed against the loan amount. These loans can be availed quickly as they do not involve paper-work. Thus, availing such loans does not consume much time. These loans have loan amount ranging from Å1000 to Å25000 and the loan repayment term is about 1 to 10 years. The lender is at complete risk as he does not have any kind of security in case the borrower fails to repay the entire loan amount by the time. In order to recover his risk to some extent, he imposes higher rate of interest on the loan. The loan repayment period is also shorter for these loans. The borrowers with bad credit record like arrears, defaults, late payments, missed payments, CCJ‘s, insolvency etc. can also avail these loans without any kind of trouble. Before applying for these loans the borrowers must satisfy some conditions like he must be a trustworthy citizen of UK, must be 18 years old or above, must be having regular monthly income not less than $1000 and must have a valid bank account for the transactions to take place.
The borrowers must search on internet for the suitable loan deal by comparing the loan offers of different lenders available online. Online loan application process is very easy as it does not involve paper-work and is lesser time consuming. One can apply for these loans by sitting at his home only. He is no more required to stand in long queues for the sake of loan application process. The borrowers are now just required to fill an online application form with the required details and send that form to the lender online. The loan amount will be transacted to their account the same day or the very next day.
Calvin Mark is author of Non Homeowner Loans. For more information about tenant loans, loans for unemployed tenant visit http://www.nonhomeownerloans.me.uk