Hot Topics

What is a Tenant Loan?
If you do not own your own property, you will not be able borrow money secured on your home. This means that any loan you take out will be a tenant loan – or an unsecured loan.
If I decide I need a personal loan, which type of lender is best?
Banks, building societies and specialist finance companies all offer personal loans. None are any better than the others in any outright sense – but because the market is so competitive, you'll need to shop around.
How quickly can I get the money?
How quickly you get your loan depends on who you buy it from.
What if my loan application is not accepted?
Sometimes a lender may not wish to give you a loan. This may be for a number of reasons, however the lender is not obliged to tell you exactly why the loan been refused.
I have not been with my current employer very long, can I still apply for a loan?
To apply for an unsecured loan you will normally need to provide 3 consecutive pay slips to prove that you have a regular income.

What happens if I can't meet the loan repayments?

If you are having problems repaying the loan, you will need to talk to your lender straight away to discuss the problem.

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The situation could arise because you have changed jobs and your earnings have gone down, or your other outgoings simply not do allow you to make your repayments. If you are extremely unfortunate and have had an accident or have fallen sick, and you do not have short-term income protection insurance or a repayment protection policy attached to your loan, you will not be able to afford the repayments.

Most lenders will listen sympathetically and make an alternative, mutually beneficial arrangement. You have to make sure however that whatever arrangement you enter into that you keep to it - so first make sure you will be able to afford it before agreeing. They may be prepared to suspend loan repayments for a while or extend the term of the loan. Also check to see if you have a repayment protection policy included in your loan that might cover you in respect of the cause of your financial difficulties.

If you have a secured loan and you cannot in any circumstances fulfill the obligations of your repayment plan, the worst possible scenario is that you will have to sell your home to pay off the outstanding balance.


Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.