The last year has been particularly tough for many individuals in the UK with regard to their financial position and managing to stay on top of their commitments such as personal loan repayments, as well as everyday things like food and fuel bills, on top of their home owner loan or mortgage repayments, or rent.

With many financial experts predicting that the economic situation in the UK is likely to become worse over the next twelve months or so, many of those who are already struggling with their loans could find their position completely unmanageable and ace serious loan arrears or even repossession.

A new survey, conducted by the housing charity Shelter, has just revealed the extent of the problem across the country, with the findings that more than one third of people in the UK have spent less on food, or even done without altogether, in order to be able to make their home owner loan or rent payment for the month.

The survey also found that around 22 per cent of people have turned their heating down, or off, so that they could save enough money to pay their loan and keep the roof over their head.

In fact, the results of the survey show that somewhere in the region of 26 million individuals have been struggling with their home owner loans and other hosing costs since 2008, despite the fact that homeowner loans are now at their most affordable level for over ten years, due to the currently low interest rates.

Campbell Robb of Shelter said “These staggering findings show just how many millions of people are cutting back on essentials as the continued squeeze on incomes starts to bite. Every two minutes, someone in Britain is at risk of losing their home. We strongly urge anyone struggling to pay their rent or home owner loan to seek advice as early as possible.”