Hot Topics

What is a Car Loan?
There are three different types of car loan. We have covered them here to make you aware of the options open to you when seeking a car loan:
What is a Career change Loan?
If you are planning a change of career then it is likely you will experience either a big drop in or a total loss of regular earnings – and this is why people choose to take out career change loans.
How much can I borrow?
How much you can borrow is dependent on a number of categories: your income, your assets and your credit history to name but a few.
Will the loan company contact my employer?
Firstly, a loan company will never contact your employer without your consent.
What if I already have a mortgage or loan secured on my home?
It is possible (indeed common) to have more than one mortgage or loan on your property, as long as there is sufficient free equity in the property to secure the loan.

What is a Tenant Loan?

If you are a tenant you do not own your own home. This means that any loan you take out must be a Tenant's Loan and will be unsecured.

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There are disadvantages to this in that you will not be able to get such low interest rates or as much collateral as those who put up their home as security have access to. Rather than borrowing up to £100,000 which you can if you own a property, you will only be able to borrow up to £25,000. However there are benefits - the loan will not be tied to your home so if you do have problems repaying, your home will not be directly at risk.

Tenant loans are likely to be unsecured loans and thus the lender will need to be recompensed for the lack of security on the loan by charging higher interest rates. When applying for a tenant loan you will need to have three years accommodation and address details, and three years employment history. If you have moved address or job recently you may have more trouble getting a loan. However there are loan companies that will offer you a loan whatever your situation, so make sure you are honest when making your application and you will be able to get a loan that suits you and your needs.

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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.