Fast Cash Loans Help Ease Recession Letting Worries

Would-be landlords are increasingly turning to unsecured home improvement loans to make their properties more attractive to tenants, reports Credit Problems No Problem. Letting property or even a spare room within the family home is becoming more popular as families seek to raise cash in the recession.

Newton Abbot, Devon, UK (PRWEB) November 2, 2008 -- Would-be landlords are increasingly turning to unsecured home improvement loans to make their properties more attractive to tenants, reports Credit Problems No Problem

Letting property or even a spare room within the family home is becoming more popular as families seek to raise cash in the recession.

But many need to invest in home improvements first to make their properties stand out from the crowd amid burgeoning competition among landlords.

And for those with poor credit, home improvement loans can be difficult to source.

Some 18.1 per cent of applicants seeking fast cash loans from Credit Problems No Problem cite 'home improvements' as the reason for borrowing.

"Home improvements have always been popular among our applicants," said a spokesman for Credit Problems No Problem, which specialises in loans for people with a poor credit rating.

"However, now the difficult housing market conditions are making unsecured loans more attractive to landlords - particularly those new to the letting market."

UK house prices are now 14.6 per cent lower than they were 12 months ago, according to latest figures from Britain's biggest building society, Nationwide.

The price of the average UK property fell to £158,872 in October - £27,172 lower than it was a year ago. read more