19% admit to extra borrowing to pay mortgage

Nearly one fifth of people said they had borrowed money to meet a mortgage repayment last year, according to research by the housing charity Shelter.

Read more: Carney warns homeowners

Housing
Almost a million people used a payday loan to cover mortgage costs last year, Shelter said. Credit: PA

Read more: Personal debt in Britain £1.4tn

At least 19% of people quizzed admitted to borrowing in some way to keep their home, with 2% relying on a high-interest payday loan to cover costs.

Others had dipped into an unauthorised overdraft, borrowed on their credit card or asked family or friends for the funds, a survey of almost 3,700 people revealed.

Campbell Robb, chief executive of Shelter, urged those who are struggling with their rent or mortgage costs to seek help.

He said: "Our message today is don't keep your worries to yourself. Shelter's expert advisers can be the difference between keeping your home and losing it."

Read more: Number of UK first-time buyers rose by 22% in 2013

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Payday loans 'used to fund rent and mortgages'

Housing charity Shelter has claimed that hundreds of thousands of people are borrowing from payday lenders to meet rent or mortgage payments.