More renters struggling with housing costs

More and more tenants are struggling to pay their rent, new figures have revealed.

According to consumer group Which?, the proportion of renters missing rent payments rose to 4.7% last month.

This reflects a wider trend, as Which? believes about 1.9 million households missed essential payments, such as rent, mortgage payments and credit card bills, in the month to 11 April.

The group also estimates that 13 million households - almost half - made at least one adjustment to cover essential spending, such as:

• cutting back on some essentials
• dipping into savings
• selling possessions
• borrowing

This has led to many people feeling pessimistic about the coming months.

Figures from Which? show that last month, people’s confidence in future household finances fell to its lowest level since July 2023.

Global issues affecting public mood

The Which? research shows that many Brits are feeling pessimistic about the bigger economic picture.

Last month, consumer confidence in the future of the UK economy fell to its lowest level since late 2022.

Figures showed that nearly two-thirds (64%) believe the economy will get worse in the coming year, while just one in 10 (11%) think it will get better.

Many said they were feeling gloomy because of global events, such as the US tariff policy and the war in Ukraine.

But rising prices and government tax changes were also found to be common concerns.

Are you struggling to pay your rent?

If you’re finding it hard to keep up with your rent, then options are available.

Use our benefits calculator to find out if you’re getting all the state support you might be eligible for.

We’ve also put together some useful money saving tips for people living in rented accommodation.

And don’t forget to use our budget calculator, so you can identify where possible savings can be made and free up cash to put towards vital expenses.