Thursday 27th of January 2011
People who rent property and are seeing their debts spiral out of control may find their money worries are exacerbated by increased rents this year.
According to new research from Money.co.uk, almost half of landlords are planning on upping the amount of money they demand from their tenants in 2011.
And with many proprietors gearing up to escalate rents by four per cent, the website noted almost two million households will each be a further £550 worse off over the next 12 months.
So for those struggling to keep their debts in order, they may find seeking individual voluntary answers is a particularly prudent move.
Hannah Maundrell, head of content at the portal, said the mortgage market has not yet opened up, meaning many people have no alternative but to rent.
"Unfortunately for them, simple supply and demand economics means that this pushes up the cost," she added.
A survey recently carried out by One Poll on behalf of F&C Investments found people aged between 25 and 44 are the most concerned about their debts.
By Chris King
