A joint survey by HSBC and Shelter has revealed that over 67% of people with housing costs in England, such as rent or mortgages, have faced unexpected financial pressures over the past year. Many respondents reported struggling to meet payments, cutting back on essentials, or even fearing eviction. The housing crisis has also significantly impacted mental health, with more than half of those affected experiencing sleepless nights due to financial worries.

Rents have risen sharply, outpacing inflation, with rent inflation remaining above 8% for the past 16 months. Analysis by the Joseph Rowntree Foundation shows tenants are now paying an average of £110 more per month than a year ago. Deborah, a 72-year-old from Sheffield, shared her story of receiving a Section 21 eviction notice after her landlord doubled her rent, worsening her health and leaving her unable to retire.

Although Labour plans to ban Section 21 notices, their use has surged, with an eight-year high reported early in the year. This highlights the ongoing struggles tenants face, including mass evictions, such as the 150 tenants evicted from a South London apartment block in December.

In response, HSBC and Shelter are encouraging people to seek support through Shelter’s free housing services. The partnership aims to expand emergency assistance, improve digital tools, and increase in-person support nationwide. Shelter’s helpline manager, Nadeem Khan, emphasized the importance of seeking help early, stating that partnerships like HSBC’s are critical in addressing the housing emergency and ensuring people can find and maintain secure housing.

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