UK loans for private and council tenants – bad credit loans for tenants
A guide to unsecured loans for retired tenants
There may be many reasons why private or council tenants who are retired might seek an unsecured loan. For example, you may want to embark on DIY on your tenanted home, landscape the garden or treat yourself to a holiday or even a cruise. If you are struggling with existing financial commitments, debt consolidation is an option. However, whatever the reason, there are companies who specialise in unsecured loan applications from this age group. You can apply today for a tenant loan if you are retired on the right.
It is fact that the UK economy in the future will depend on people in their 50’s and 60’s working on after their expected retirement age in either a part time or full time capacity. This could be because of a pension shortfall, or a willingness to work, therefore, the definition of retired will undoubtedly shift from the stereotyped image of today that men currently retire at 65 and women at 60 and no longer work.
Regardless of if you are retired or not, most companies will only be interested in the ability of the tenant to repay the loan applied for and their credit status, amongst other factors. To qualify for a retired tenant loan, you will be required to prove your income by confirming the current pension received and income from other sources, such as benefit payments, interest from savings, and investments.
Loan advice for retired tenants
If you are a retired private or council tenant struggling to come to terms with your finances and are unsure as to whether to apply for a loan for retired tenants, there are independent organisations who can offer free financial help and advice to the retired and elderly depending on your circumstances. These include some local age concern groups – Age concern, the National debt line, a national helpline for people of all ages with debts, and your local Citizens Advice Bureau, Citizens advice
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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