Lender offers tenant loans for desperate households

Desperate households feeling financial pressure and those forced to use their credit cards to pay off their mortgages and rent can heave a sigh of relief as UK Financials Ltd is offering collateral-free unemployed tenant loans.

This loan facility does not require security from the borrower as it is free from collateral evaluation criteria. It can provide an instant fund to pay off outstanding debts, particularly mortgages and rentals without the pressure of security placement.

The unemployed tenant loan is welcome news for the estimated more than one million households believed to have used their credit card to pay their mortgages and rent over the past 12 months.

MoneyHighStreet.com quoted housing charity group Shelter which said that the “shocking discovery paints a shocking picture” of one in every 12 Londoners taking desperate measures and using their plastic to pay their mortgage and rent. Shelter said this practice would only increase the debt of households.

In a statement, UK Financials said borrowers can take out unsecured loans ranging from £1000 to £25000 for a fixed period of 1 to 10 years. You can also arrange for flexible terms of payments depending on your situation. However, the strong message is if you do take out such a loan then make sure you keep up with the repayments so as not to incur high penalty charges.

Aside from paying off rent or mortgages, the unemployed tenant loan can also be used to settle other financial obligations, such as domestic expenses, consolidation of debts, unexpected wedding expenses, pay off education expenses, and others.

Even bad creditors can take advantage of this loan facility, it was learned.

Do be careful though about your debts and if you feel your debts are getting out of control it may be time to get debt advice and get professional help on dealing with them.