Tenant loans are likely to grow in popularity due to higher housing costs

According to a recent suvey, private property is becoming more expensive to rent, which is likely to result in the increase in the number of new tenant loans applications.

The survey carried out by the Royal Institution of Chartered Surveyors (Rics) spanned three-month period up to April 2011 and discovered that over the course of this period, 42% more respondents had seen an increase in rents.

The rise of the private property rent can turn out to be difficult for of those renting property, and the latter might seek loans to bridge financial gaps while they adjust to new costs.

Rics claims the rise in demand for private rented property can be explained by the growing number of individuals who need to rent partly due to their inability to get on the housing ladder.

In April,45, 166 mortgage applications were approved, while the corresponding figures for March were 47,145.
 


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.