New research has revealed that half of private renters in the UK are struggling to keep up with bills and credit commitments. The poll, conducted through YouGov for debt charity, StepChange, also found that one in three private renters have used a form of credit to ensure they can afford their rent payments in the last 12 months, up 5% from January 2024.

The study also found that private renters are worse off financially compared to people with different housing situations, with debt flagged as a key issue. One in three private renters have cut back on essential spending in the last 12 months, compared to one in four UK adults.

StepChange isn’t the only charity reporting on how the housing crisis is affecting renters, either. The Money Charity released data showing that renters are increasingly vulnerable to the cost-of-living crisis, with four advice agencies (Citizens Advice, StepChange, Debt Charity and Christians Against Poverty) all reporting that renters, private and social, are the largest cohort receiving advice.

In a bleak assessment for renters, change doesn’t look like it’s on the horizon. The Renters Reform Bill, that focused on banning no-fault evictions, will not become law before parliament is dissolved on 30 May, much to the dismay of many. However, while the bill was a welcome move in potentially ending what were seen as “unfair” evictions, campaigners always pointed to how it didn’t tackle the issue of affordability. Commenting before the bill was scrapped, Peter Tutton, head of policy, public affairs and research at StepChange said: “We’ve reached a point where renting in the PRS (private rental sector) is increasingly unaffordable, yet the growing scarcity of social housing means that more and more financially or otherwise vulnerable people have no choice but to do so.

“Sky-high rents and wider cost-of-living pressures mean millions of private renters are scraping by or relying on credit to pay their rent. Even with the Renters (Reform) Bill currently in the Lords, PRS tenants are given no effective statutory protection from eviction if they do fall into problem debt.”

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