The Covid crisis has opened up a wealth divide between richer and poorer families. Wealthier Brits saved money during lockdowns as they cancelled foreign holidays and saved on commuting costs. In contrast, many poorer families face financial hardship and have mounting rent arrears caused by job losses and reduced income. Across the UK, rent arrears add up to a staggering £360 million according to charity StepChange.
What is behind the rent arrears crisis? Is it likely to continue? And what you can do if you are facing financial difficulty and can’t pay your rent? Here’s what you need to know.
Why is there a rent arrears crisis?
It’s simple: if you have no money, you can’t pay the bills. And that’s what’s happened for thousands of lower-income families during the Covid crisis. As their money ran out, many poorer families faced escalating rent arrears. Factors leading to the … Read more