One In Ten Reliant On Overdrafts To Pay Their Rent Or Mortgage

Research from comparethemarket.com finds that while most Britons can manage their finances, some are struggling to make ends meet, relying on expensive overdrafts to cover costs. 30% of UK adults have to dip into their overdraft because they have run out of money before the end of the month. Worryingly, one in ten (13%) use their overdraft to cover the cost of their mortgage or rental payments - the equivalent of 1.2 million people. Of these, one fifth (20%) use their overdraft to cover the full payment amount, while a quarter (24%) use it to cover, on average, half of the cost. Read more on Property Reporter.

https://www.propertyreporter.co.uk/finance/one-in-ten-reliant-on-overdrafts-to-pay-their-rent-or-mortgage-claims-new-research.html