Much of the lending industry tends to be centred around those who own their own homes. It's almost inescapable - whether banks are trying to get you to take out a mortgage so that you can buy yourself a new house or they're allowing you to use your home as equity in a large loan, everything seems to be focussed exclusively on those who have gone out on a limb and bought property.
What this trend doesn't take into account is the fact that there is a huge section of society out there who haven't taken that plunge yet for whatever reason. It could be that they have decided to rent instead of buying or that they still live at home with their family. There are plenty of good reasons why someone doesn't own their own home, and it seems that they are being unfairly discriminated against when it comes to taking out loans.
Fortunately there are some financial institutions out there who have recognised this market niche and who currently offer tenant loans with no fees, or at least with no substantial fees, to potential borrowers.
Websites like www.uktenantloans.co.uk claim that they have a 100% acceptance rate for applications, which take no more than a couple of minutes to fill out on their website. Like many places of their ilk, they offer loans even to those with poor credit ratings, making them an attractive prospect for many.
However, as you may have expected, the trend with these lenders is to charge large amounts of interest making it very possible to make your financial situation even worse than it currently is.
If you are planning on taking one of these no fee tenant loans, than please be sure to fully read all documentation and speak to someone at the lending institution so that you are totally aware of what is involved.