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Loans for UK Tenants
If the home you live in is rented accommodation, housing association or you live with your parents then you are perceived by loan companies as a tenant and they will apply different criteria when considering your loan application (Tenant Loan), the ability to pay his the prime consideration for lenders, nevertheless you will almost certainly have to pay a higher rate of interest than you would with a loan secured on a property. Adverse, bad or poor credit can also have a bearing on the rate of interest you will pay as this is more risky for the lender, you have poor credit when you have no security to back-up the loan, if you do have bad credit the interest rate charged could be astronomical and other forms of financing may have to be considered (overdraft, remortgage etc).
Loans For Tenants
If you live with your parents, a council tenant or maybe a student then you have little alternative when it comes to getting a loan, because you do not have property to use a security against the loan then unsecured tenant loan is the best you can hope for.
Advantages
Because you are not providing security, your home "obviously" can not be taken from you.
Disadvantages
A loan company will not be a happy chappy if you do not provide security, so inevitably they will charge you a higher rate of interest and maybe other charges.