Private renters 'struggling' as more fall into arrears

11/08/2008

Many people who rent their homes from private landlords are falling behind on their payments, insurer AXA has said.

The firm claims that 13 per cent of private renters have gone into arrears over the past year, with around half of this total doing so in the last three months alone.

This suggests that the number of people struggling with their payments is on the increase.

AXA also found that around one in two private renters is "concerned" about making ends meet in the near future, due to their accommodation costs.

Commenting on the new research, EuroDebt director Kevin Still said: "Prioritising critical monthly payments like your rent, mortgage, council tax and utility bills is essential. EuroDebt often finds that people renting pay unsecured creditors, like their credit providers, ahead of their landlord or residential letting agent.

"This is a key activity we undertake when completing a Client Financial Planner at the home visit."

Tags; Housing Debt and Bills,

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