If you think you cannot get loans because you do not own a house, you very much need to go through this article. With the financial market becoming more and more extensive, it is gradually opening new options to cater to all sections of borrowers. Being a homeowner is thus not at all a prerequisite to get loans. With non homeowner loans, you can avail fund easily and fulfill all your desires.
Non homeowner loans are offered to all individuals who do not own a house to put as collateral against loan. This loan is collateral free loan and thus is suitable for non homeowners like tenants, students, people living with friends and relatives, paying guests etc. Thus being an unsecured loan, you do not have to put your property at risk and the lender has no rights on your property if you fail to repay the loan.
Non homeowner loans since they are unsecured, lenders offer a loan amount ranging from £1,000 to £10,000. The repayment term is around 1- 10 years. The interest rate is a bit higher since no security is offered to the lender.
In order to avail non homeowner loans you need to fulfill certain conditions:
- You should have a permanent employment
- You should have your employment and income proofs.
- You should also have the identity proof, residential proof,
- You should have a UK bank account.
These prerequisites are important to get a non homeowner loans in order to get quick and fast loans. The most apt mode of getting a loan is to apply online. Online lending offers you various benefits. It provides you an opportunity to choose among a wide range of lenders with varied rate of interest. Apart from that the loan is availed fast because the entire loan process is carried online thus it saves your time and money. The lender will just ask you to fill an online application form in which you will be required to put your details. After that the lender will transfer the loan amount in a very short time in your account.
You will get a good loan amount if you have an excellent credit history. But do not be disappointed if you have a bad credit history. Non homeowner loans are available to individuals having arrears, defaults, poor credit history, bankruptcy or CCJ .
Non homeowner loans are offered for many purposes. You can use this loan to buy new home, car etc., to consolidate your debts, for wedding or business purposes and so on. Avail non homeowner loans and you will enjoy all benefits that a non homeowner is devoid of.
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