Even with a history of late payments, defaults, arrears and CCJs, such people can find Bad credit loans in the highly competitive loan market place. But they need to ascertain some conditions before they apply for it. Then, you should also look for the costs involved in these loans.
Both the tenants and homeowners can find these loans. But they must prove their repayment capability. They can do so by producing their documents of annual income, employment record and bank statements.
The homeowners can find bad credit loans in secured option, implying that they need to pledge collateral, which may consist of home or any other property. Depending on value of collateral, they can borrow £5000 to £75000 or above for its repayment in 5 to 30 years. Despite a risky history, you can borrow the amount at low rate of interest due to collateral.
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