Twice as many tenants seek money advice doubles
Sunday 21 October 2012
Renting a home may have long been considered an interim move while saving for a deposit, but tenants are increasingly struggling to make ends meet, let alone putting cash aside, the debt advice charity Money Advice Trust has warned.
The number of calls from renters to its helpline has soared in the past five years. From January to August 2007, the free advice helpline received just over 6,000 calls from people with rent arrears, compared with 12,000 over the same period this year – an increase of 99 per cent.
The figures suggest renters face a growing number of broader debt problems, with tenants for the first time accounting for more than half of all calls to National Debtline, said Joanna Elson, the charity's chief executive.
"Where there is limited supply and greater demand, rising prices will follow," she added. "However, rising rents are not only making it harder for people to save for a deposit, they're also pushing more people in debt.
"This is a dangerous spiral; with increasing numbers of people entering the rental market, and fewer leaving it, it is hard to see how the situation will improve. Anyone struggling with finances should seek free, impartial advice as soon as possible."
Life & Style blogs
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
- 3 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
£21000 - £35000 per annum: Randstad Education Cambridge: Secondary teachers ne...
Negotiable: Randstad Education Sheffield: Primary PPA Teachers required for wo...
£21000 - £35000 per annum: Randstad Education Cambridge: Maths teachers requir...
£35000 - £38000 per annum + benefits: Ashdown Group: Executive Assistant/Event...