Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Nearly a third of Brits worried about their rent or mortgage

mortgage

Londoners expressed the highest levels of concern, with nearly four in 10 worried about paying for their accommodation

Nearly a third of Brits are worried about paying their rent or mortgage at the moment, a new survey has found.

Polling conducted by Ipsos Mori showed that 30 per cent of people in the UK have such concerns at the moment, while 31 per cent are worried about making payments in a year’s time.

Levels of concern are highest amongst private renters, with 43 per cent very or fairly concerned about paying their rent now, compared to 39 per cent of social renters and 35 per cent of mortgage-holders.

A year down the line, however, and the figures are far tighter, with 40 per cent of those with mortgages worried about paying housing costs, compared to 39 per cent of social renters and 41 per cent of private renters.

Londoners expressed the highest levels of concern among those surveyed, with nearly four in 10 of people in the capital worried about paying for their accommodation.

Across the next twelve months, the figure barely changes, falling from 39 per cent this year to 38 per cent next year.

Those least concerned about such payments can be found in Wales and the Midlands, at 23 and 25 per cent respectively.

The survey also found half of Britons saying they are spending less money overall (51 per cent). This however has dropped 12 per cent since April, with the lifting of lockdown giving people more chances to spend.

Almost six in 10 across Britain are in favour of extending the Government’s mortgage holiday scheme, while in England and Wales 54 per cent want to reintroduce the government’s ban on renters being evicted, which ended in September.

The government first introduced a three-month mortgage holiday in March as the coronavirus pandemic swept across the country.

The scheme was subsequently extended but is due to end on 31 October.

Ipsos Mori’s research director Ben Marshall said: Previous Ipsos Mori research has shown younger age groups and private renters have had an especially tough time during Covid.

Marshall said, this is further underlined in our latest survey with renters more worried about falling behind on housing costs than mortgage-holders in the short-term.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.