The research also found 9% of people have had to spend a lot more on their credit cards because of increased housing costs. A fifth of people in their forties have been forced to turn to loans or credit cards to keep their heads above water. And with £30bn worth of mortgage deals coming to an end in July, many more people will be thrown into the vicious situation of facing much higher monthly repayments.

Full story: yourmortgage.co.uk