Nearly one in five rent or mortgage payers have borrowed money to cover their housing costs, research commissioned by Shelter reveals today to Inside Housing:
The YouGov survey of 4,000 adults found that 19 per cent of those polled used an unauthorised overdraft, took out a short term payday loan, took out another type of loan, borrowed money from family or friends, borrowed money on a credit card, or borrowed money in another way to pay their rent or mortgage.
In the past 12 months, it also found that 2 per cent of those polled have taken out a payday loan to pay their rent or mortgage.
While 25 per cent of those polled would be too ashamed to ask for help if they couldn’t pay their rent or mortgage, 40 per cent wouldn’t admit if they were struggling with their housing costs to family or friends.
The charity said last year the number of people they helped because they couldn’t pay their rent or mortgage has also risen by almost a third, 32.3 per cent, from 6,797 to 8,995.
Campbell Robb, chief executive of Shelter, said: ‘Sky-high housing costs, stagnating wages and the high cost of living have taken their toll. The economy as a whole might be on the up, but losing our home could now be a frighteningly real prospect for any one of us.
‘We’re now hearing from record numbers of families up and down the country who are desperately struggling to keep the roof over their heads. But the truth is, we’re more worried about the people we don’t see.’