Million households using credit cards to meet mortgage payments

A YouGov poll, commissioned by Shelter, found 6% of households had relied on a credit card to pay for their housing costs since the beginning of the credit crunch and Shelter is urging people to seek independent advice. Commenting on the findings, Adam Sampson, chief executive of Shelter, says: “For many people trying to keep a roof over their head, desperation is driving them to short-term, high-cost borrowing. Ordinary people are being forced to seek more risky and expensive ways to stave off the threat of eviction and repossession.” Shelter says credit card interest rates are well abov...