Millions cut back on essentials to pay mortgages

Thursday, 19 January 2012 01:39

Millions of people are being forced to cut back on essentials such as food and utilities in order to keep a roof over their heads.

This is the discovery of a new poll carried out by YouGov for the charity Shelter, which showed that 22 per cent of people have reduced the amount of money they spend on gas and electricity to make it easier to pay a mortgage, while 34 per cent have cut back on food purchases.

It means around 26 million Britons may be missing out on heat and nutrition so they do not have to have their home repossessed.

This figure is significantly higher than in 2008, prompting Shelter to urge anyone having trouble paying their bills to seek help as soon as they can.

Chief executive of Shelter Campbell Robb said the findings are staggering.

"It demonstrates the tough choices families are now having to make, between heating their home, putting a decent meal on the table or paying for the roof over their head. Every two minutes someone in Britain is at risk of losing their home," he added.

Earlier this month, Shelter also discovered that nearly one million Britons have taken out a payday loan in the past 12 months to continue paying their mortgage or rent, while around seven million are using unauthorised overdrafts, standard loans or credit cards to cover such costs.

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