Thursday 14 September 2017

Quarter Of Private-Renting Families Slipping Into 'Bad Debt'

One in four families renting homes in England is falling into hundreds of pounds of “bad debt” due to the cost of moving house, new findings show. Having to pay letting fees, removal van hires, cleaning costs and other requirements that come with moving properties has seen thousands of families taking out debt in the form of credit cards, overdraft, bank loans or payday loans, according to a report by housing charity Shelter. A total of 255,944 private renting families took on such debt the last time they moved, with the cost of moving home amounting to an average of £1,619 across England – and reaching £1,707 in London. Read more on the Independent website.

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