Against the backdrop of bad debts and government bail outs one UK lender seems to be keeping the balance right, indicating that there are still lenders out there who might just help lead us all out of recession.
The hangover from the last decade or so of irresponsible lending shows no signs of abating, and the continued twin calamities of repossession and redundancy still an alarmingly common occurrence, it is reassuring to see that Nationwide are keeping a cool head when it comes to lending.
Their current rate for a tenant loan of ten thousand pounds over five years is just 7.6 percent, which is unmatched by any of their nearest competitors. Tenant loans are of course a topical subject given the insistence from the government that banks must lend responsibly or be accountable for their actions, as tenant loans are often taken out by those with poor credit histories who may be more likely to default on the loan.
While there are options out there for those with poor credit it is alarming to still see lenders offering terms on tenant loans as high as 42 percent, which is unlikely to benefit the borrower in the long term who will more likely default. Visit http://buyremedy.com/
Nationwide are as strict as you could reasonably expect a bank to be in this regard, and while they will accept new account holders with poor credit they will not issue them with a debit card, overdraft and certainly not a tenant loan. This old fashioned attitude could have well served many other financial institutions in recent times, and perhaps prevented a great deal of unnecessary hardship.
Needless to say this current loan rate from Nationwide is only available to those with an excellent credit score, which is probably reassuring for their current account holders who may have friends or family who have had experience with banks that wobbled, if not collapsed during the recent financial banking crisis. While tenant loans can be a good way for those with poor credit histories to slowly rebuild their rating they are obviously putting lenders at greater risk and this is probably not in the best interests of our economy. More information is available on this and similar topics at http://buyremedy.com/
