According to a poll by YouGov for the housing charity Shelter, around one million people or 6% of households in the UK are using credit cards to pay their mortgage or rent. The survey revealed that over 1 million households have put their mortgage repayment or rent on their credit card in the last 12 months.
Over 2000 people were surveyed by the public opinion and consumer behaviour Company which also revealed that working-class households were twice as likely to use plastic as middle-class homes. When asked why they resorted to using credit cards with 4 or 5 times the interest of their mortgage, respondents said they felt they had to do it to avoid repossession and keep their home.
Tags: avoid repossession, house repossession, repossession, repossession order, stop repossession