You are here: Home - Mortgages - Buy To Let - News -

One-in-five borrowers struggle to pay mortgage

0
Written by:
25/06/2013
Nearly one-in-five borrowers are concerned about paying their mortgage amid rising concern about the future, the Chartered Institute of Housing has found.

Of those surveyed, 29% said they were fairly or very concerned about paying their mortgage this time next year.

CIH chief executive Grainia Long said the figures were extremely disturbing and represented a ‘toxic mix’ of economic problems: “The number of people worried about their housing costs will continue to rise, because we have failed to build enough new homes for decades.

“Decisive action is required to help fix our dysfunctional housing market. Long-term problems like this require long-term, fundamental solutions.

“Recent government announcements have shown ministers understand the importance of fixing our housing system, but we need housing to be understood as a national priority if we are to have any chance of dealing with this deepening crisis.”

The figures indicated tenants were under more stress than borrowers – when those paying rent were included in the survey, a quarter said they were concerned about paying their monthly housing bills and 36% said concerns about housing costs were causing them at least a fair amount of stress.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Brits prefer payday lenders or the boss to the bank

Brits would rather turn to a payday lender or their boss than the bank in times of financial crisis, says...

Close