People Struggling with Housing Payments

The video discusses the financial struggles faced by Mandy, a mother from West Sussex, who resorted to payday loans. Her story highlights a broader national issue, with millions struggling to pay rent or mortgages. The housing charity Shelter reports a significant increase in people falling behind on payments and turning to payday loans. Concerns are raised about the impact of potential interest rate hikes, which could worsen the situation for those on tracker mortgages. The video also emphasizes the lack of a reliable housing safety net, leaving many vulnerable.

What was the main reason Mandy had to quit her job?

• She found a better job opportunity.

• She decided to pursue further education.

• She wanted to spend more time with her family.

• She couldn't afford the commute due to financial constraints.

According to Shelter, how many people are struggling with rent or mortgage payments?

• 1.4 million

• 7.8 million

• 5 million

• 10 million

What financial solutions do some people resort to when struggling with rent?

• Taking out payday loans

• Investing in stocks

• Selling personal belongings

• Starting a new business

What type of mortgage is tied to the Bank of England base rate?

• Variable-rate mortgage

• Tracker mortgage

• Fixed-rate mortgage

• Interest-only mortgage

What is a likely consequence of rising interest rates for mortgage holders?

• Switch to interest-only payments

• No change in payments

• Increase in monthly payments

• Decrease in monthly payments