The features of Tenant Loan UK have been derived from the unsecured form, which means that tenants can obtain the loan without pledging collateral. The credit score of the applicants are taken into count rather then the collateral.

The tenant loans are available for amounts ranging from £1,000 to £50,000. Before the lender gives out the tenant loan he would verify the credit history score, the income of the tenant, the creditworthiness of the tenant etc. These factors help the lender in deciding on the amount that should be given to the tenant who is borrowing the money and also the interest rate on the amount borrowed. The repayment period on the loan is decided on the amount that is borrowed. The loans for tenant are usually given for a period of 5-10 years.

The lenders are usually at a risk with the tenant loans because of the fact that the loan is unsecured. Because of this fact the interest rate charged on the loans is high.