Please read our useful information guide for tenants interested in comparing loans from different sources.

With lending set to reach record levels companies are finding new ways of selling loans to council and private tenants. Some lenders use comparison tables in marketing literature, or on their websites comparing their competitors “Typical APR’s” covering unsecured or secured minimum and maximum loan amounts. In addition to this there are several aggregator websites that will also find and compare the cheapest loan from their panel of providers’ subject to you meeting their eligibility criteria by completing their online forms. As with any type of loan advertisement, the figures published are generalised and all applications are assessed on an individual basis by each lender.

How lenders compare loans.

The traditional method of comparing loans from different companies is also offered by brokers and intermediaries. The process is often similar to aggregator loan websites where information is provided by the tenant through an online form or over the phone. The broker or intermediary will then contact a suitable company who they think can provide the required loan and contact you with the outcome. Where as the aggregator services sometimes excludes tenants with bad credit histories or CCJ’s, some brokers or intermediaries maybe able to offer loan products to tenants with or without bad credit.

Before deciding to use a tenant loan comparison service either online or over the phone, consider checking the terms and conditions as an automatic credit reference check may occur. If this is the case, it should normally be stated upfront or during the process. Go here for more information on credit scoring

Please Note! YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. ALL SECURED OR UNSECURED LOANS ARE SUBJECT TO STATUS. SECURED LOANS ARE SECURED ON PROPERTY.