Urgent mortgage warning issued and it applies to 'one in 10 uk households'

HOUSEHOLDS ARE STRUGGLING TO PAY MORTGAGE REPAYMENTS AS INTEREST RATES AND THE COST OF LIVING BOTH REMAIN HIGH, NEW DATA HAS SHOWN, WITH 12 PER CENT STRUGGLING. 10:47, 27 Jan 2025 UK

households have been warned over 1 in 10 facing a "mortgage disaster". Households are struggling to pay mortgage repayments as interest rates and the cost of living both remain

high, new data has shown, with 12 per cent struggling. One in 10 homeowners are finding it increasingly difficult to keep up with their mortgage commitments, new data shows. GoCompare found

30 per cent cutting back on entertainment subscriptions as a result of the mortgage pressure they are facing. And 19 per cent admitted to reducing their internet, TV, or phone packages. One

in 3 have lowered the amount they are saving, showing that many are having to prioritise immediate bills over long-term financial goals, the data shows. READ MORE UK SET FOR 13CM SNOW BOMB

WITH 'EXACT HOUR' FLURRIES START ANNOUNCED One in five said they are having trouble paying their utility bills on time, too. Nathan Blackler, home insurance expert at Go.Compare,

said: “It’s concerning to see that some households are cutting back on essential costs like home insurance. For many, the rising cost of living has created an impossible balancing act,

forcing them to make difficult choices between protecting their homes and meeting immediate needs. Article continues below “It’s understandable that people are focusing on what feels urgent,

such as utility bills and food, but it’s important to remember that home insurance is there to provide a safety net in case of emergencies.” He added: “Home insurance may feel like an easy

expense to cut, but this risks being underinsured during a crisis. “As the cost of living continues to rise, it’s vital that households review their financial priorities to ensure they’re

not compromising on essential coverage. There’s no doubt that these are challenging times, but being underinsured could end up being far more costly in the long run. “Those who are

struggling can consider seeking advice from the Money and Pensions Service to help resolve their difficulties.”