One in eleven people in Britain fear they won’t be able to afford their rent or mortgage at the end of this month.
Research from Shelter, based on a YouGov survey of over 4,000 British adults, shows household budgets across the country at breaking point, and suggests that millions will start the new year worried about keeping their homes.
Families are the worst affected, with more than 70% of rent or mortgage payers with children currently struggling or falling behind with their payments, compared to 63% of the general population.
Shelter is warning that many people, feeling overwhelmed by money worries, will put off overdue bills until it’s too late, placing their homes at risk.
The findings reveal a worrying trend of people unable to face up to their financial difficulties, with nearly one in five saying they’ve not opened post if they thought it was a bill or late payment reminder.
Campbell Robb, chief executive of Shelter, said: "It’s a worrying sign of the times that so many are starting the new year worried about how they’ll pay their rent or mortgage in 2014. Unless they get help, some of the families struggling now could face the very real prospect of losing their home this year."
Comments
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Sad news indeed. For people thinking of selling their properties to avoid such worrying problems, visit http://www.quickbuyhomes.co.uk/how-to-sell-your-house-fast for suggestions and help from experts in the real estate industry.
Agree 100% with PeeBee.
It's not the annual Xmas overspend and worry over first three months mortgage payments that agents of all persuasions need to worry about as you say.
It's in the the inevitable 2-3% rise on mortgage payments generally either later this year or during 2015 that the real danger lurks
NO???
So Shelter need to carry out a PUBLIC FUNDED 'survey to tell us what any man on the street already knows!
The same would be true for ANY year. People overspend at Christmas, not thinking about it needing to be paid for.
Ask the same people again in April and see what their response is then for their next due payment.
Thanks, Shelter - I'm pleased to see it confirmed that my tax money is being spent so 'wisely'...