Over 400,000 households in London spend more than half their income on housing

Published on

Wages & Income

One in four private renters across the capital are ‘housing pinched’ Around 430,000 households across London – containing 990,000 people – spend more than half of their income on housing costs, according to new analysis published today (Wednesday) by the Resolution Foundation. The analysis shows that the proportion of ‘housing pinched’ households in London (those … Continued

READ MORE

Policy overhaul required to help insulate Britain’s heavily-indebted households from rising interest rates

Published on

Debt & Savings

Dealing with the household debt hangover must be priority for next Parliament as the end of ‘holiday period’ for borrowing costs draws nearer            A comprehensive plan to help tightly-stretched households manage the transition back to a world of more normal interest rates is laid out today in a wide-ranging report … Continued

READ MORE

One in 10 mortgagors at risk of being trapped in ‘unaffordable’ borrowing finds new study

Published on

Debt & Savings

One in ten of today’s mortgagors risk being imprisoned by borrowing deals which are likely to make their repayments unaffordable as interest rates rise over the next four years according to new research from independent think tank the Resolution Foundation. The study suggests that around 770,000 households fall into both of two potentially problematic categories … Continued

READ MORE

Up to 2 million UK families face perilous debts by 2018

Published on

Debt & Savings

Britain faces the mounting prospect of a household debt crisis as analysis from independent think tank the Resolution Foundation suggests that a least a million British families, and possibly as many as 2 million, could be spending more than half their disposable income on repayments by 2018 The study uses the latest five-year growth projections … Continued

READ MORE

Perilous debt levels could push households to the brink if interest rates rise faster than expected

Published on

Debt & Savings

The number of families in Britain with perilous levels of debt repayments could more than double to 1.2 million if interest rates rise faster than expected in the next four years and household income growth is weak and uneven, according to new Resolution Foundation analysis. The figures suggest that the ongoing squeeze on households could … Continued

READ MORE

Lowest income households borrowed to spend in run up to crisis

Published on

Debt & Savings

Low to middle income households were reliant on borrowing to fund much of their spending for more than a decade before the financial crisis, according to a new report for the independent think tank the Resolution Foundation.  The report reveals the full extent of the increase in borrowing and deterioration in household savings rates in the … Continued

READ MORE