Tenant’s loans for deposit on the increase
The availability of tenant deposit loans are proving a saviour for tenants seeking properties to rent.
With landlord demanding more and more money up front, tenants are having to find an increasing amount of money to secure a home. With the increase in the cost of living due to inflation, the increase in VAT and the hike in petrol costs this makes saving for the deposit and other move in cost harder.
Tenants are increasingly turning to deposit loans to help them find the money they need to pay in advance. Tenants deposit loans are normally borrowed on a short term basis just as a stop gap until the next payday. This really helps renters as it gives them the money they need to move.