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Research shows renters and mortgage holders would struggle to afford their monthly payments if they increased by up to £50

Renters and mortgage holders reveal fears they would be unable to meet payments if they go up in 2017. It also highlights the number of people already using credit cards and savings to make payments.

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New research has found 4 in 10 (41%) renters or mortgage holders in Scotland would struggle to afford their monthly payments if they increased by up to £50.

The research, carried out online by YouGov on behalf of Shelter Scotland, found that 9% are already struggling, 18% would struggle with an increase of £25 or less per month and 14% would struggle with a £50 increase per month. 

The research also revealed more than 1 in 4 (26%) renters or mortgage holders said they were worried about not being able to pay for their rent or mortgage at some point during 2017, while almost 1 in 10 (8%) admitted they’d used a credit card to pay their rent or mortgage and nearly 3 in 10 (28%) had used their savings. 

Shelter Scotland is warning that ignoring money worries rather than seeking advice could lead to people’s homes being put at risk. The charity recently revealed that it had helped more people last year than in any previous year via its free national helpline, digital chat and online Get Advice.

The charity says its advisors are on-hand to help anyone worried about paying for their housing costs or at risk of homelessness.

Shelter Scotland is urging households facing housing problems to visit shelterscotland.org.uk/advice or call the free national helpline on 0808 800 4444.

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