Figures from charities reveal how people unable to gain on the housing ladder are under pressure from overdrafts,loans and arrears in rentWith a soaring number of tenants falling into financial difficulties as they battle increasing rental costs, charities acquire identified a “worrying trend” of escalating debt for those who are frozen out of home ownership.
Debt charity StepChange says the number of renters contacting it with difficulty paying off debt in the four years to 2015 more than doubled, and rising 139%,in exclusive figures given to The Observer. The average sum owed is £10829 each, made up of unsecured debts including overdrafts, and loans,credit card debt and rent arrears – which acquire reached an all-time high of £922.
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Source: theguardian.com