Can
I Get a Secured Loan as a Tenant / Non-Homeowner?
Secured loans are normally only available to homeowners with
equity and those with sufficient assets for the lender to be
able to take a charge over. If you are not currently a homeowner
you may wish to consider an unsecured loan as an alternative
– you may not be able to secure such a large amount for
your loan due to the nature of the loan being unsecured against
any property, however you may find that if you are a strong
enough credit that some lenders may be able to still assist
you with your requirements without any security being necessary.
Some secured
loan providers will consider taking security in the form of
other assets, such as vehicles and expensive items of jewellery,
however these type of secured loan providers are often found
at the lower end of the market and typically look to deal with
those customer who are not very good credits, therefore the
costs of their secured loans can prove quite expensive alternatives.
So make
sure you do your research and check out all the secured loan
offers available to you before making your final decision over
which secured loan you are going to apply for. Trying visiting
some of the top secured loan providers listed above and discuss
your requirements to see if they meet the needs for your secured
loan.
