Published: 16th Feb 2021

Around 450,000 families have fallen into arrears with their housing payments during the Covid-19 crisis, according to a new report. The report by the Resolution Foundation estimates that more than 750,000 families were behind on their housing costs in January, an increase of around 450,000 compared to pre-pandemic levels, and that renters have been hit hardest. Around 300,000 of the total number of families in arrears also include dependent children, suggesting they are especially vulnerable. The report notes almost a quarter (24%) of private renters have seen their earnings fall during Covid-19 crisis, compared to one-in-six (16%) working age adults with a mortgage. Another factor is that over the course of the pandemic, one-in-ten (10%) of families with a mortgage have received a mortgage holiday from their provider, giving them some much-needed respite. But just 3% of private renters and 2% of social renters successfully negotiated rent reductions over the … (To read the full article, subscribe below)