Sunday, July 6, 2008
Approximately 4.1 million households have fallen into this trap in the past year
The research from price comparison site moneysupermarket.com also found nine per cent of people have had to spend a lot more on their credit cards because of increased housing costs. Twenty per cent of people in their forties have been forced to turn to loans or credit cards to keep their heads above water. And with £30 billion worth of mortgage deals coming to an end in July, many more people will be thrown into the vicious situation of facing much higher monthly repayments.