youthmoney

More than a million householders have used credit cards to pay their mortgage or rent in the past year. That’s according to survey just published by ROOF, Shelter’s housing and homelessness magazine

It is risky and expensive, and indicates desperation. Shelter chief executive Adam Sampson says more and more people are being driven to short-term, high-cost borrowing as a way to stave off the threat of eviction and repossession.

The Guardian reports that 7.5 per cent of 18-24 year olds had used credit cards to pay their housing bills. Many housing associations allow tenants to pay rent by credit card.

Shelter’s website has the summary — and a useful advice section on paying for your home.