Study shows 1.4 million falling behind with rent or mortgage payments

Study shows 1.4 million falling behind with rent or mortgage payments

By agency reporter
5 Jan 2013

A new YouGov survey for the housing and homelessness charity Shelter reveals that 1.4 million people in Britain are falling behind with their rent or mortgage payments

The number of people struggling to pay their rent or mortgage each month has increased by 44 per cent over the past year, to 7.8 million people.

The research also reveals that over the past year almost a million people used a payday loan to help pay their rent or mortgage and 2.8 million people used an unauthorised overdraft. Of those, 10 per cent did so every month.

With austerity measures set to affect even more families this year, Shelter is urging anyone struggling with their housing costs to visit their free, online advice pages, to avoid putting their home at risk.

The charity is also warning of the dangers of turning to short-term, high interest credit as a way to help meet housing costs.

Campbell Robb, Shelter’s Chief Executive, said: "It’s shocking to think that so many families will be starting the New Year with a huge weight hanging over them, trapped in a daily struggle to keep their home.

"Payday loans may seem like a quick fix, but the huge interest charges mean things can quickly spiral out of control. It’s vital that anyone who’s having difficulty paying their rent or mortgage gets advice now."

Advice from Shelter can be found here http://england.shelter.org.uk/get_advice/rent_or_mortgage_worries

[Ekk/4]

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