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Some tenants are facing serious hardship in the current climate, with one in 10 (11%) having had to rely on food banks to make ends meet, Zero Deposit research reveals became.
Fewer people say they are financially comfortable (9%), and almost half (46%) have no disposable income after spending.
When asked what the main reasons are for financial insecurity, the high cost of living remains at the top of the list, with major expenses such as rent and bills also cited as one of the biggest factors, followed by overdrafts and other borrowings. It continued. Fee.
Sam Reynolds, CEO of Zero Deposit, said: ‘While much has been said about the obstacles to building up a mortgage deposit and the increasing costs of monthly mortgage repayments as interest rates soar, , this country’s renters are facing an even more desperate situation.” In the current climate.
“Rent as a proportion of gross pay rises to 53% in the capital region and 43% across the UK. This is clearly unsustainable. We risk sleepwalking through these issues without the incentive to approach the field with optimism.”
A third (34%) have had to rely on friends or family to borrow money, and almost a quarter (23%) have had to take out a credit card to cover living expenses. 15% said the same. Rely on additional financing.