UK Landlord Forum / Life

More than four million families have used a credit card to pay the mortgage or rent in the last year.

The figure exposes the dramatic impact of the economic squeeze on ordinary families.

Settling debts by withdrawing cash on a credit card is probably the most expensive way possible with interest rates as high as 28 per cent, and indicates a disturbing level of desperation on the part of homeowners.

Stats
One person in six fears losing his or her home after failing to keep up with payments.

Nearly three million families have had to borrow money from friends or relatives, or take out a personal loan, to pay the mortgage or the rent.

One in four families said difficulties meeting their housing costs every month is causing them stress or depression.

Full story here


Out of curiosity, has anyone here used a credit card to pay rent, or their mortgage?

We talked about this before.  i have never used my cards to pay for rent/mortgage, it scares me to think people do this kind of thing.  I feel really sorry for them if they are doing it due to hard times.  WTF is wrong with this Government aiding to make people like this.

So much cheaper/better to get a bank loan!!!

if I was in debt, I would just private message you, innit.

There we go son, we all need a sugar daddy to look after us dont we,

Ummm who is mine going to be, well i have a sugar mommy, whooo hoooo dont tell the wife !.