UK loans for private and council tenants – bad credit loans for tenants
Information for private and council tenants who find themselves in a financial crisis?
In the event of an unexpected emergency or circumstance that prevents a private or council tenant from meeting their existing financial commitments such as household and food bills, the UK government are currently offering crisis loans for tenants.
Provided certain eligibility criteria have been met an interest free tenant loan maybe offered from the Social Fund, there is no restriction on the amount that can be applied for. If the loan application is successful there will be an agreement between the provider and the tenant regarding the payment term of the loan. This should confirm when repayments are to be made to ensure that the full amount is paid back. As with any type of loan offered the provider will assess your ability to afford the repayments, therefore, you maybe asked to confirm weekly or monthly income and outgoings.
To qualify for a tenants crisis loan applicants must be 16 or over, provide evidence of a shortfall in finances following the emergency and confirm that without such a loan there will be consequences to your family’s health or safety. Alternatively, if you are in receipt of the Community Care Grant and are aged 16 or over, you may qualify if you require funds to relocate from institutional or residential accommodation to rent from a non council authority such as a private landlord.
Further help for tenants
To apply for an emergency tenant loan or seek further information contact either an advisor at Jobcentre Plus, or, your local social security office. All applications are assessed on their individual merits. Visit this link Emergency loans for tenants for more information. If you don’t qualify for an emergency loan and have a bad credit history, are unemployed, or claiming benefits you can apply for a tenant loan on the right.
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.
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