New research reveals sleepless nights for people facing housing pressures

New research reveals sleepless nights for people facing housing pressures

High number of people worried about housing pressures prompts Shelter and HSBC UK to urge people to seek support

More than half(57%) of people with housing costs and experiencing housing pressures in England have been kept awake at night over the past year due to worries including high rents, poor conditions and the risk of eviction, according to new research from Shelter. This is equivalent to approximately 11million people across the country.

As rents continue to soar, the research carried out by YouGov for Shelter and HSBC UK, paints a concerning picture for the year ahead showing over half of those (52%) paying housing costs in England are starting the new year worried about housing or financial pressures.

Over 67% of people with housing costs in England have reported housing pressures over the last year – equivalent to nearly 20million people across England. The research found that of those paying housing costs:

• 21% struggled to keep up with mortgage or rent payments.

• 10%were worried about being evicted from their home.

• 37%had to cut back on essentials to afford their housing costs.

Housing pressures are taking an even greater toll on the mental health and wellbeing of millions of people up and down the country. Over two-thirds (71%) of people with housing costs reporting a housing issue say they feel anxious, and just less than half (49%) say they feel hopeless due to their housing situation.

Deborah, 72, from Sheffield, is unable to retire due to financial pressures. She and her partner were served with a Section 21 no fault eviction notice after their landlord doubled their rent. Deborah and her partner's mental and physical health were significantly affected as they struggled to navigate their housing situation.

Deborah said:"We had been living in our home for several years and then, out of the blue, our landlord told us they would be increasing my rent by 100%. When I tried to negotiate, and mentioned the repairs that needed doing, I was served with a Section 21.

“I felt under constant pressure, all day, every day. Every time I opened my email, there were new property listings that were unaffordable, or emails about our old one. My partner Malcolm and I both had sleepless nights, and my heart condition worsened—causing extreme tiredness and high blood pressure. We weren't functioning properly; we were just addled by the stress and lack of sleep. I started making mistakes at work, and at one point, I felt like the stress was rendering me unable to do my job.”

Get help: Free expert advice on housing and financial health available

Shelter and HSBC UK are urging anyone who is feeling the negative impact of housing pressures to seek expert support as soon as possible by visiting shelter.org.uk/get_help, or to reach out to their bank for broader financial health support. Accessing support sooner rather than later can prevent these issues from escalating and stop them from having an even greater impact on physical and mental health.

Shelter’s emergency helpline manager, Nadeem Khan said: “Up and down the country, the housing emergency is raging and as we enter a new year, millions of people are feeling the devastating impact of a lack of genuinely affordable social homes and record high private rents.

“Every day, across our frontline teams, we see and hear about the crippling financial pressures and heartbreaking situations people are facing. Parents tell us how they are spending sleepless nights anxious about losing their home and having to move away from their work, communities and children’s schools.

“At Shelter, we know how vital it is that people seek help for their housing issues as soon as possible. It’s only through the help of our partnerships like HSBC UK, that we are able to continue to do all we can for those at crisis point, and help people find and keep hold of a safe home.”

Building on the impact of HSBC UK's pioneering No Fixed Address bank account service, Shelter and HSBC UK are working together to strengthen support for individuals in immediate crisis while also helping to create a more stable future for those at risk. The partnership focuses on expanding emergency assistance, developing new digital tools and online resources, and providing in-person services across the UK.

HSBC UK’s head of vulnerable customer standards, Maxine Pritchard said: “If you’re feeling worried about your finances or housing situation this new year, you’re not alone – and getting advice and support early can make all the difference.

“Home is everything, and together with Shelter we’re working to help more people and communities build financial resilience and access meaningful support before they reach a crisis point. The important thing is that people feel able to access information and support in a way that works best for them. We will not judge, and we’re ready to help.”

To learn more about the support and tools available from HSBC UK, including financial wellbeing webinars and 1:1 financial health checks for customers and non-customers alike, visit www.hsbc.co.uk/financial-fitness

To support Shelter’s urgent appeal, visit www.shelter.org.uk/winterappeal