Many consumers are hoping to get a cheap personal loan in an effort to stay afloat in today’s uncertain economy. For many families, making ends meet is harder than ever and as a result, they are seeking the assistance of a cheap personal loan to make it easier. However, these loans are in short supply and even those with perfect credit are finding it very hard indeed to get a cheap personal loan with the current rates and bank fees on the rise. This may not change for many months.
Axa managing director of intermediary personal lines Mike Keating says: “Our research shows that over a third of people privately renting are doing so because they can’t get a mortgage at the moment. On the surface of it, this looks like the rental market should be buoyant. But if you consider that many of those renting may be struggling to make ends meet it’s certainly not all good news for buy-to-let owners.
“The cost of living is rising rapidly and average earnings are not keeping pace. And while rental rates appear to have dropped marginally in the last few months it’s going to continue to be tough for many tenants.”
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