Mortgage payments top worry for consumers

Mortgage payments is the financial commitment most consumers are worried about, according to a study conducted by Haysto.

Of those surveyed, a 71% admitted they are worried about having enough money to pay their rent, mortgage and utility bills due to the ongoing pandemic.

Looking to the most-asked enquiries in regard to high-street mortgage lenders, 63,000 people in the UK collectively searched enquiries for ‘payment holidays’ every month.

The data also shows that 27,000 people in the UK each month, searched for the term ‘mortgage holiday.’

Prior to the pandemic, the term was searched by an average of 590 people per month.

Furthermore, ‘rent payment holiday’ was searched by 390.

Paul Coss, co-founder of Haysto, said: “It’s really surprising to see such high numbers of google searches regarding payment holidays throughout the UK, however, it does demonstrate the financial impact the pandemic has had on Britons all over the country.

“If consumers feel like they are struggling to pay off their debts, it’s important they seek help to keep their finances manageable.

“There are several experienced debt counselling services that offer free and confidential advice available in the UK.”

Written by: Houseladder