Tenant loans

  • Borrow from £1,000
  • Use for any purpose
  • Bad credit is OK
  • Social housing tenants
  • Private rental tenants
  • Living with others
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Loans for Tenants

Borrow from £1,000 to £25,000

Because we have a broad panel of lenders we’re more likely to be able to find you the personal loan that you need. We can take into account people who have credit problems, those who are self-employed and those who don’t want to provide a guarantor.

The beauty of a personal loan is that you don’t need to provide any security which means you don’t have to own the home you live in. We have plenty of lenders who are more than happy to lend to tenants regardless of whether you:

  • rent social housing
  • rent privately
  • live with family or friends.

Tenant loan summary:

  • Apply for £1,000 to £25,000
  • Loans are unsecured
  • You don’t have to own your home
  • Self-employed welcome
  • Options for good & bad credit ratings
  • Fast & free enquiry service
  • Same deals as going direct

Get Your Quotes

What is a tenant loan?

For the UK’s growing tenant population tenant loans provide a simple solution to ineligibility for secured credit. Personal loans for tenants are essentially an unsecured loan i.e. you don’t need an asset, such as a property, in order to apply for one. Instead, the decision about whether or not to lend is made on the basis of factors like:

  • Your credit history
  • A judgement by the lender about the risk of lending (often derived from a credit score)
  • A steady income and an assessment of affordability

As long as you can demonstrate your ability to repay the loan then there’s not necessarily any need for any security.


The advantages of unsecured loans for tenants are numerous, including:

  • You can use the loan for anything
  • You can choose the repayment term that suits you (between 1 and 10 years)
  • You can borrow the amount you need from £1,000 up to £25,000

With no asset required as security, unsecured loans are a great, flexible form of finance for tenants.


Of course, there are also some things to bear in mind with personal loans, such as ensuring that you can afford the repayments. It’s important to choose a loan amount, and a repayment term, that work with your other monthly financial commitments or you could find yourself in trouble with your finances if you can’t make the payments. Always make sure that you only borrow the money that you need and remember that repaying quickly – or early – is better for you overall. Our repayment calculator may help you.


Who can borrow tenant loans?

A tenant is anyone who is living in rented accommodation, and could include those:

  • Sharing a joint property with friends
  • Sharing with strangers
  • Living with family

Rental properties are now more likely than ever to be privately owned, but councils and housing associations still provide a large number of properties to rent.

This means that tenant loans are open to anyone who isn’t a homeowner who is looking for personal finance up to £25,000.


When your credit isn’t perfect and you need a loan

One of the benefits of unsecured loans is that you don’t necessarily need to have a perfect credit score to be eligible. As long as you have a regular income from employment then there are unsecured lending options available – you can even help to rebuild your credit standing by making regular payments on your unsecured loan.

For those who need a little more assistance, guarantor loans are another accessible type of tenant loan where you won’t be asked for an asset, such as a property. Instead, the guarantor loan works by asking someone close to you to guarantee the repayments that you’re agreeing to make on the loan. So, if you’re unable to make those payments your guarantor will do it for you. For those who don’t have a perfect credit score, it’s an easy way of getting back on the straight and narrow again.

If you’re one of the growing numbers of UK tenants looking for finance without an asset to secure it on then try tenant loans. They’re an easy way to get the money that you need, whether you’re a lifetime renter or not.

Renting: the new norm

Over the past couple of decades, the UK housing market has been changing shape, with a rapid increase in the numbers of people renting their homes, rather than owning them.

Large rises in house prices driven by a rising population and a slowing of new house builds means people are delaying jumping onto the housing ladder or not jumping on at all.

For the first time since the 1960s, more people are renting privately than from social landlords or housing associations. And the average age of a first-time buyer has risen to 35.

More of us are waiting to buy and, for some of us, lifetime renting, similar to the markets in Switzerland and Germany, is probable. As a result, tenants are no longer young, single professionals – more than a quarter of tenants are married and, age-wise, there’s a similar number of 35-54 and 25-34 year-olds renting in the UK.


What does it mean for personal loans?

In many ways, the personal finance market in the UK was set up around the model of young first-time buyers and mass homeownership. Those looking for finance often find themselves asked to secure the loan with a charge over a property. However, the way that the housing market in the UK has changed means that this simply isn’t an option for many people and the consequence can often be that there is simply no access to credit as a result.


Find out about Personal Loans


Personal Loans Guide

If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.


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For over a decade Solution Loans has helped people all over the UK find solutions to their personal finance problems.



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Our reputation is great. In fact we have scored 4.7 out of 5 based on 423 ratings & 61 user reviews for our personal loans service.


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Written/Reviewed by: Amanda Gillam

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