More than one million householders have used credit cards to pay their mortgage or rent in the last 12 months, according to a survey by housing charity Shelter.
The YouGov poll showed that 6 per cent of those who were liable for the rent or mortgage have paid by credit card - suggesting a national figure of more than a million people.
The highest proportion of those who pay their rent or mortgage through credit card were from working class professions (8% of those in the C2DE social grouping), but the poll also showed that 4 per cent of middle/upper class (ABC1 category) are using use credit cards in this way.
The charity is issuing a stark warning to people about the dangers of using credit cards which could result in the loss of their home. Credit card companies have to recover their debts and are not subject to the same rules as mortgage lenders. Once they obtain a charging order on people's property, credit card companies can go back to the court for a possession order to force a sale to recover the debt.
Kay Boycott, director of policy and campaigns at Shelter said: "This is a shocking discovery, that over a million households in
The survey found that one in 12 Londoners are resorting to plastic to pay their mortgage or rent.
Date: 11th, January, 2010
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