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PPI Claims: People 'can not afford rent'

PPI claims could be needed as the tough economic climate means housing costs are reducing the amount of money people can spend on other essentials.

Individuals are now aware that getting on the property ladder is very difficult but news that families are now finding rent unaffordable is even more worrying, said Campbell Robb, chief executive of Shelter.

"With no cheaper alternative, ordinary people are forced to cut their spending on essentials like food and heating," he added.

Mr Robb was speaking after his charity revealed that 55 per cent of employed families can not afford rent payments.

Between 1997 and 2007 rents have increased at 1.5 times the rate of the average income and now 38 per cent of tenants with children are reducing the amount they spend on food to pay for their housing, the study found.

Shelter wants the government to take "urgent action" to steady the market.

Credit Action recently stated that in the UK a house is repossessed every 14.6 minutes.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-800758590-ADNFCR

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