A quarter of Brits too ashamed to ask for help with mortgage costs

A new survey has revealed that a quarter of Brits feel too ashamed to admit they are struggling to pay the mortgage and need help.

According to bbc.co.uk, the research from Shelter also found that two-fifths of people think they wouldn't be able to tell their friends or family if they were struggling financially either.

Instead, almost a million households have turned to pay day loans to help them pay their rent or mortgage costs. The charity additionally revealed that calls from people struggling to pay the mortgage increased by one third last year, reports dailymail.co.uk.

Overall, 19 per cent of Brits have been forced to borrow money, with the majority building up debt on their credit cards.

Campbell Robb, chief executive of Shelter, said that people should not keep their worries to themselves. “Sky-high housing costs, stagnating wages and the high cost of living have taken their toll,” he explained.

“The economy as a whole might be on the up, but losing our home could now be a frighteningly real prospect for any one of us. We're now hearing from record numbers of families up and down the country who are desperately struggling to keep the roof over their heads.”

Chief executive of the Consumer Finance Association, Russell Hamblin-Boone, added that short-term loans shouldn't be used to fund long-term debt.