Bad Credit Loans For Non-Homeowners - Tenants

Handing House Key

If you have had bad credit in the past, or maybe you have no credit history, then you can know how difficult it can be to get approved for a loan.

You may need a loan to buy a car to get to and from work, or to consolidate other bills and debts, maybe a loan to move house, get married, fix up your house, but with having bad credit, and not owning any property, getting a loan can seem impossible.

There are loans available to borrowers that are not homeowners but tenants, and do not own any property.

Payday Loans

Payday Loans:

Payday loans are short-term small loans that carry with them a high interest rate/APR. These loans are for people with bad credit, or no credit, and who require a small loan, of a few hundred pounds, and can repay the loan on their next pay period.

These loans are based on affordability, and that the borrower has a job and a bank account.

Since the loan is to be repaid usually within 30 days, the APR can be 1500% or 2000%, or more!

Home Equity Loans

Logbook Loans:

These are loans for someone who may have bad credit, but also owns a car. For the loan you are pledging the car as security or collateral.

This form of bad credit loan is based on affordability and the fact the borrower has a car of some value.

Should the borrower not be able to repay the loan, the car is then at risk.

Home Equity Loans

Guarantor Loans:

Guarantor loans are approved based on affordability and also the fact there is someone guaranteeing the loan.

The loans are not secured by a car, so there is no risk to any vehicle the borrower may have.

The loans can be for longer terms than a payday loan, and have much lower interest rates, so payments can be more affordable.

Benefits of a Buddy Loan for homeowners

  • Bad credit not a problem
  • Easy and quick online application
  • Quick approval and money in your account usually within 24 hours
  • The loan is not secured by the property
  • Loan can be paid back over 60 months (5 years)
  • Competitive interest rate
  • The loan can be for any reason, debt consolidation, home improvements, buy a car, repairs, etc.

If you have a good buddy, you can be approved for a Buddy Loan!


Buddy Loans is a direct lender rated 5/5 stars by based on 1128 merchant reviews



from 0 to 10

Representative Example


36 months

£158.57 p/m

Total Repayable

Interest Rate
41.16% (fixed)

Representative 49.9% APR.

Terms and Conditions apply. Suitable Guarantor required. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.