The rent of the house: to ask for a loan for the rent?

Loan in a rental: when it is advisable to request it

 Loan in a rental: when it is advisable to request it

One of the worst effects brought about by the economic crisis in Spain for our pockets is the closing of the credit tap, which made thousands of people opt for a rental housing and not mortgaging. The housing crisis sparked a boom never seen in the rental market in our country. According to the Statistical Office of the EU, Eurostat, Spaniards continue to lead the purchase of houses despite the restriction of money in mortgage loans by financial institutions.

The figures of the rental market in Spain

In our country only 22% of people lived on a rental basis (compared to 35% on average in Europe), according to data from the National Institute of Statistics, which represents a high growth in recent years due to the fact that banks have closed the credit tap, the instability of the labor market and greater geographical mobility. Experts point out that in Spain there is a greater culture of ‘entrenched property’ despite the rise in the rental option and being far from the figures of the rest of European countries.

In some cases, this increase in the demand for rental housing has meant an increase in prices, which in some specific areas has exceeded 10% annually.

The figures of the rental market in Spain

Madrid is the most expensive region to rent a home, according to data from different real estate portals: 1,050 € on average. Second, there would be the Basque Country with an outlay for tenants of € 971 per month, while Catalonia would be the third with € 950 on average.

The rise in the price, the experts point out, is due to the scarcity of new construction or quality flats, making it more expensive for homes that have been recently renovated.

When to have a loan for rent?

 When to have a loan for rent?

These expenses, which are increasing every day, force many of the tenants to incur external financing. An advance payment that can be requested either to pay the deposit or to buy new furniture in the house. In some cases a microloan is requested to register some supplies such as electricity, water or gas. In other cases to deal with a bill with a high cost, once you have already entered to live in the house.

Once arrived at this point, the tenant should ask if requesting a mini loan or loan is a good option. The answer is affirmative, but with some nuances: the tenant must carry the household finances in a responsible manner. You must understand that the loan money must be well managed, that it is for the short term and that then return expenses are faced.

Do you need a loan in a rental? We help you.

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