Ever wondered what is a Tenant Loan? A tenant loan is another term for an unsecured personal loan. Tenant loans are aimed specifically at people who do not own any property. Tenant loans are a way for those people who rent their accommodation from council, private landlords or live with parents to apply for a loan.

Tenant loans are unsecured because you do not need to own a property to use as collateral on loan. Unsecured loans are a good loan option for people who are financially stable and able to keep up loan repayments, and who may or may not own their own property.

Tenant loans can be taken out and used for any purpose, including new car, debt consolidation, home improvement or luxury holiday.

Tenant loans are available from a range of banks, building societies and other financial institutions. You can borrow from around £1,000 to £50,000 and choose to repay tenant loan over a period of 1 to 25 years.

The basic requirements for those wishing to apply for tenant loans are:

You are in full time employment.

You are paid by computerised pay slips.

Your bank account accepts a Direct Debit facility.

You have proof of identification and residence - normally utility bills.

You have made satisfactory rent payments (excluding "living with parents")

You have a home telephone line (or a mobile provided a copy of agreement is produced)

Refinancing Your Home - IS the Time Right?

Refinancing your home is a major decision not to be taken lightly, even in this era of low interest rates and easy money. While every mortgage company in town is touting strategy of getting a new loan before rates rise again, there are several things you'll want to be mindful of before you go about refinancing your home.

In my view key to refinancing your home isn't just rate they're offering you: it's total package looked at not only in terms of today, but a few years down road. Many people have taken out new loans that really weren't quite right for their long term situations, thinking they'd be able to refinance again in not-too-distant future. That may or may not prove to be true. No one has a crystal ball that'll give you a definitive idea of just where rates will be even a year from now, so try to approach this with a somewhat more long-termed view. It's very easy to get tempted by prospect of easy, fast cash, but in end you end up giving it all back in terms of higher payments, and worst case, be unable to make your payments and lose your home. Just look at all costs associated with this new loan, determine what payments will be in 2, 5 and 10 years, or whatever your timeline is, and make an informed decision unfettered by a mortgage broker's "opinion" what's "best" for you. They have a vested interest in getting you into a loan, any loan, and WILL NOT, repeat, WILL NOT, have your best interests at heart when you go about refinancing your home.