Approximately 700,000 households were unable to meet their financial obligations for rent or mortgage during the month of April, as per estimations
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Loading... - John Fraser
- 23 May 2023
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Approximately 700,000 households in the UK encountered difficulties in paying their rent or mortgage in the month of April, as per the findings of a survey conducted by Yonder for consumer group Which?. The survey, based on responses from 2,000 individuals, revealed that approximately 2.5 percent of households had either missed or defaulted on their housing payments in the preceding month.
Among those surveyed, renters faced a significantly higher rate of missed payments, with approximately 5.2 percent of renters reporting a missed payment in the past month.
Furthermore, nearly 59 percent of respondents stated that they had made adjustments to their budget in order to cover essential expenses such as utility bills, housing costs, groceries, school supplies, and medicines during the same period. These adjustments included reducing expenditure on essential items, utilizing savings, selling belongings, or borrowing money.
Expressing concern over the situation, Rocio Concha, the Director of Policy and Advocacy at Which?, emphasized the importance of seeking free debt advice and reaching out to mortgage providers or landlords for assistance for those facing financial difficulties.
Concha also called upon businesses operating in essential sectors such as food, energy, and telecommunications to go the extra mile in supporting customers, providing them with fair deals, and avoiding unnecessary charges or fees amidst the ongoing crisis.
