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December 18, 2011

Scots expect to miss rent and mortgage payments in December

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Thousands of people in Scotland could be putting their homes at risk by missing their rental or mortgage payments in order to pay for Christmas, research from Shelter Scotland has revealed. The findings, which suggest many people might be better off using a firm like Gateway Homes to downsize to a more affordable property, showed that seven per cent of homeowners in the country have taken or are considering a break from their mortgage payments in December. Meanwhile, eight per cent of tenants believe they will have to skip their December rent, a figure equivalent to 83,690 people.

“Too many people are risking their homes by missing or delaying rent and mortgage payments. With Christmas just around the corner, many can feel pressured to spend money they simply don’t have,” said Graeme Brown, director of Shelter Scotland.

The charity urged people to think carefully about delaying rent or mortgage payments, as they could put themselves at risk of losing their home, particularly as Scotland is now beginning to feel the full impact of spending cuts. Earlier this month, Shelter Scotland advised the Scottish government to use funds raised from a new tax on empty homes to fund a programme of renovation for Scotland’s 23,000 long-term unoccupied properties.

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