Tenant defaults could soar over the next year amid reports that up to one million households have borrowed money on a credit card to pay their mortgage or rent over the past year, says leading tenant eviction and rent collection firm Landlord Assist.
Despite restrictions on credit and reports of many people paying off personal debt, an exclusive YouGov poll for housing charity Shelter reveals a disturbing picture of more than a million people taking desperate measures with credit cards to keep a roof over their head.
The survey asked 2,022 people to detail if they had paid their rent using a credit card in the last twelve months with 6% of those replying saying they did – suggesting a national figure of more than a million people.
The problem was most alarming in London with a staggering 12% using credit cards to pay their rent.
