Housing costs 'straining finances' of many UK residents

The costs of housing are causing financial difficulties for a number of people, it has been revealed.

According to Shelter, many of the UK's residents are having trouble meeting their payments, with the charity noting that as many as 50,000 repossessions may be seen before 2010 comes to a close.

The organisation's chief executive Campbell Robb believes that the new coalition government must face up to the nation's current housing problems.

He commented: "Whether it is a family trapped in overcrowded conditions or someone facing eviction from their home ... people of all backgrounds are in desperate need with their housing situation."

When it comes to the issue of housing, unbiased.co.uk recently suggested that many of those who are looking to get credit with the help of a mortgage are unaware that the borrowing criteria set by lenders may not be as tight as they were last year.

Posted by Martin Peacock.