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 (www.creditproblemsnoproblem.co.uk). 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 (www.creditproblemsnoproblem.co.uk).

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.

Data for England and Wales released 48 hours earlier by the Land Registry shows that prices fell by 8.0 per cent in September to levels last seen in autumn 2006. The average property now costs £168,814 - a month-on-month decrease of 2.2 per cent, says the Land Registry.

And yet the lettings market remains robust, boosted by demand from migrant workers and those with poor credit ratings who cannot afford to buy.

However, the surplus of homes to let means that landlords are under pressure to invest in their properties to ensure they attract tenants.

"You have to make sure your property not only looks good but feels good," said the Credit Problems No Problem spokesman.

"If you want the right tenant at the right rent, the property must present well. If it doesn't they will move on and rent somewhere else."

However, the cost of home improvements can involve borrowing.

That can be difficult for landlords seeking 'bad credit loans', 'poor credit loans' or even 'CCJ loans' because they have County Court Judgements or defaults against their name.

Credit Problems No Problem helps landlords in this predicament to overcome their credit problems and secure the finance they need to let their properties.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

For rapid help, phone 0800 412 5634 or visit www.creditproblemsnoproblem.co.uk

Notes For Editors

www.creditproblemsnoproblem.co.uk

Credit Problems No Problem Ltd

TBC House

Cavalier Road

Newton Abbot

TQ12 6TZ

United Kingdom

Tel: 0800 412 5634

Credit Problems No Problem was formed in 2003, bringing together a team of specialists that together offers 26 years of expertise to help applicants gain the unsecured loans they need.

From its UK head office in Devon, Credit Problems No Problem operates across Britain, sourcing loans for people with bad credit.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

No fuss service - guaranteed.

November 2008

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