This is the equivalent of 21 million people, with the average consumer worse off by £229 per month, according to Bluestone Mortgages.
Women are feeling the pinch more, at £250 per month compared to £201 for men.
The report found that families aged 35-44 years old and those with adverse credit had been the hardest hit by the ongoing financial strain, with 47% saying they were in a worse position.
Bluestone Mortgages said that these groups were worse off by £288 and £267 per month respectively.
Regional variations
From a regional perspective, central London, outer London and the East Midlands were the worst off each month at £319, £309 and £249 respectively.
The regions that were the least financially impacted included Yorkshire and the Humber at £158, Wales at £199 per month, then the North East at £204.
Around 83% of those said their top concern was the cost-of-living crisis, followed by rising utilities or council tax bills at 54% and reduced income at 25%.
More than half of renters were worried about rising rent costs and 19% were concerned about saving for a deposit.
Nearly half of mortgage holders were worried about rising mortgage repayments.
Ryan Davies, strategy director at Bluestone Mortgages, said: “While inflation is easing, it is not falling quickly enough to ease the strain on consumer finances. As a result, we expect to see a rise in the number of customers with adverse credit as the cost-of-living pressures continue.
“These financial pressures often eat away at customers’ surplus income, sometimes causing clients to miss payments. Minor setbacks like these can trigger a computer-says-no response and leave would-be borrowers with nowhere to turn.
“For brokers with clients in this situation, it will be important to signpost them to available support. It’s our industry’s duty to educate customers on the variety of products on the market to suit their unique circumstances so that they too can achieve their homeownership dreams.”
