Working Poor Forced To Spend Half Their Income on Housing

Close to 1.6 million UK households – the housing pinched – are spending more than half their disposable income on the ongoing costs of housing each month.  Of the 1.6 million, retired households and working age households in which nobody works account for just over a third (7 per cent – 110,000 households – and 30 per cent – 480,000 households – respectively). Leaving these two groups aside, there remain close to 1 million working households who are spending over half their disposable income on housing costs. Data from the estate agent LSL Property Services showed rents rising more quickly than inflation, increasing by 2% since July 2013. The Council of Mortgage Lenders (CML)have  also issued a warning on interest rates, despite reporting a fall in the number of borrowers struggling with repayments. Read more on the Resolution Foundation website.