Unsecured Loans - Tenant Loans For Weddings Article

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Unsecured Loans - Tenant Loans For Weddings

Tenant loans and unsecured loans are sometimes dismissed as being too difficult to get when people are looking to raise the finance for their big day. This article aims to blow away the myths and show you that it might be much simpler than you think.

Author: Andy Silk

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Getting married? Thinking about how you’re going to cover all the expense? Worried that unless you get something sorted, it’s going to stop you from having a wedding day to remember?

Anyone who’s married will tell you, it’s probably the most expensive day of your life. If you do things in style, it can cost thousands and unless you’ve made a point of saving all your life until that point or you have the good fortune to have rich parents, you’re going to have to think about where the money is going to come from to pay for it all.

If you’re thinking of raising the finance and for many, this is the only way that they are going to be able to afford to have the kind of wedding they have dreamed about, then an unsecured loan could be just what you need.

Unsecured loans are designed for comparatively smaller amounts of money and where you either don’t have your own property or do not wish to secure it on your home. They provide that bit of flexibility that many borrowers are searching for and enable you to borrow the finance you need over a term that suits and where you are comfortable with the repayments.

Tenant loans are the same as unsecured loans and as the name suggests, are designed for people who don’t own their own home. Typically, they can provide finance from £500 to £15,000 and are fairly simple to apply for. Many tenants choose to apply these days with an online finance broker since a broker will be able to provide access to multiple lenders with one application rather than you having to apply independently with each one.

Simply complete the online enquiry form and within a few minutes, you should have a call from a loan consultant to help you with your application. As you are applying for an unsecured loan, the lender is not going to require a detailed independent valuation of your home as with a secured loan or mortgage. This is going to considerably reduce the time required to complete the application process reducing it from perhaps six - eight weeks down to only one or two.

The lender may however, want to know about your citizenship and residency. They will also probably want to know that you can afford the repayments, so they will probably ask you about your employment history and compare your income with your regular monthly outgoings. Finally, they will also take a look at your credit history through your credit file which will show how many times that you have applied for finance, your repayment history and how many arrears, defaults and CCJ’s you have.

All of this information enables the lender to build a picture about you and whether you can afford the repayments and how likely you are to fully repay the loan as opposed to defaulting.

Weddings can be very expensive: clothes, cars, photographers, reception, evening event, honeymoon etc. Unsecured loans and tenant loans are a way to solve your need for finance so that you can afford the kind of day you’ve always dreamed of. They are simple to apply for and comparatively quick to complete so that you could have the money available within a week or two. If you’ve decided to apply, good luck with your application and have a great day. We wish you all the very best for the future.

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About Author

ndy Silk is FinanceGuru for FeelGoodLoans.co.uk. He has had many years experience at a senior level within the finance industry and has written extensively on all aspects of personal finance.
For more articles by Andy Silk together with financial hints, tips and a wealth of internet resources, visit the Finance News section of the website.

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