Tenant loans are liable to have a higher interest rate payable since the applicant won’t have a home to secure against the debt. The best option is to plump for a tenant guarantor loan, whereby someone close to you secures the loan. The Guarantor Loan Comparison site suggests these:
- Buddy Guarantor Loans offer up to £7,500 up to five years, with a 49.9 representative APR.
- TrustTwo Guarantor Loans, with a 49.5% APR and up to £10,000 available over five years.
- Amigo Guarantor Loans offers 49.9%, up to five years, with £500 to £10,000 available.
Simon Young was a journalist for 20 years, becoming a news editor on national newspapers including the Sunday Express. He went on to lead the teams at one of the world’s largest online companies before setting up Magic Word Media.