Many consumers 'using credit cards to meet housing costs'

Credit card borrowing has recently proven an option for a number of people who are looking to find ways to meet their housing costs, according to new figures.

Shelter/YouGov research has suggested that in the last year, as many as one million consumers may have had to opt for this measure.

The charity's policy and campaigns director Kay Boycott believes that it is worrying to see so many mortgage holders and tenants getting into credit card debt.

She commented: "If people are already struggling to the extent that they fear losing their home, increasing credit card debt cannot be the answer."

It might be a good idea for people in this position to gain expert advice about their financial issues, Ms Boycott went on to note.

The costs associated with housing may be leading a number of UK consumers to cut back on their central heating outgoings during the winter months, Shelter has also recently suggested.

Written by Tom Burroughs.