Buy To Let
Millions ‘one pay cheque from homelessness’
Research carried out by homeless charity Shelter revealed that, if they were to lose their job, 18% of people couldn’t make the next month’s rent or mortgage out of their savings, and 35% (8.4m people) could not afford to keep up payments for more than one month.
The picture is worse for those with children, with 23% lacking the savings for a month’s accommodation costs and 43% not having the funds to pay their rent or mortgage for two months.
Shelter said it is bracing itself for a “surge in demand” from people whose budgets have tightened as a recent round of benefit changes kicks in.
Campbell Robb, chief executive of Shelter, said:
“These figures paint an alarming picture of a nation where the buffer between having a home and potentially becoming homeless is a single pay cheque.
“The depth of the financial pressure and insecurity felt by people across the country means that millions are living on the edge of a crisis, only secure in their homes for a matter of weeks.
“More and more people are coming to Shelter desperate for advice on how they can stay in their homes, and our services are straining to meet the demand. Anyone who can’t meet the payments on their home should seek advice as a matter of urgency.”
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