People who apply for tenant loans with no credit check do so knowing
that they can have access to an easy line of credit usually within
3 days of applying. You can repay the loan early if you want with
no redemption penalties and no early redemption fees. The loan may
be used for most purposes.
With tenant loans (no credit check) you can get credit again even
if you have a poor credit history featuring things like CCJs, arrears
and defaults. It's a liberated approach to lending which will again
allow a significant section of the population access to lines of credit
which would not have been possible otherwise.
The concept of tenant loans with no credit check came about as a
result of fallout from the credit crunch recently. Something had to
change allowing ordinary people with poor credit scores to be able
to access new lines of credit. The solution was the unsecured guarantor
loan and it has shown itself to be very popular.