Consumer awareness is steadily growing when it comes to unsecured finance, and loan companies are popping up all over the place targeting tenants. Unfortunately, some of these firms are damaging the overall view of unsecured loans, which is why it’s important to approach these firms with caution.
Unsecured loans are a great way of obtaining finance without risking any assets, such as your property. However, unsecured loan amounts tend to be smaller, and because the lender will need to compensate for extra risk they face by giving you a loan, the APR is higher.
In a recent survey run by Tenant Loans, the results revealed that 58% of consumers don’t shop around for the best loan, but even more shocking was that 68% of those surveyed didn’t even have a basis of comparison as to what a good APR and a bad APR is for an unsecured loan.
Tenant Loans, one of the UKs largest leading unsecured loan brokers have made it a priority to educate the public about the benefits of unsecured finance, and to ensure that the service they provide is, at the very least, as competitive as possible.
Unsecured loans can be particularly useful with debt consolidation, when used effectively, as well as paying for education, a new car, or a well-deserved holiday.
For more information about unsecured loans, as well not ending up like the 68% of those that don’t know a good APR when they see it, go to: http://www.tenantloansonline.com or http://www.tenantloantenantsloans.co.uk.
