This latest report from UK think tank JRF looks at polling suggesting homeowners are often not well placed to weather changes to their incomes.
The coronavirus crisis has impacted millions of households, including homeowners with mortgages. Polling that JRF commissioned from YouGov from 22 to 28 May confirmed that homeowners are not always well placed to financially weather unexpected changes to their incomes, with almost 40% of mortgage holders having suffered reduced income due to coronavirus, and almost one in five worried about meeting their housing costs after the lockdown lifts – around 1.3 million households. This is higher again for households with children: almost 23% of mortgage holders with children are worried about how they will meet their housing costs after lockdown.
Homeowners need as much certainty as possible to manage costs in the medium and long-term, and this briefing sets out four ways the Government can create a stronger lifeline for those struggling to stay afloat.Read Full Report