South West mortgage crisis as bills wipe out income

Citizens Advice said people who were struggling with their mortgages needed to talk to their lenders now and seek help

Some people in the South West have no money left at the end of the month after they have paid all their bills, Citizens Advice Cornwall has said.

The charity said those who were struggling with their mortgages in 2019 had about £60 a month left after they had paid for essentials.

Now on average they have already gone over their budget by £118.

Citizens Advice urged people who were struggling to talk to their lenders now.

One nurse, who lives in Cornwall but wanted to remain anonymous, said her monthly mortgage payments had doubled in the last 18 months.

Her husband died five years ago and she has been working part time.

She has had to cut out any luxuries she had in her life.

"I don't drive the car because the fuel prices went up. I eat very little food because the food prices have gone up," she said.

"I live on next to nothing. I try not to think how much it impacts on me because I work with the public and I have to make sure that I still have the smile, and the caring, and the sense of humour.

"But deep down in my heart, despite the smiley face, I'm hurt. I'm struggling."

• Five ways to save money on your mortgage

• What happens if I can't afford to pay my mortgage?

• Why is UK inflation so high?

Landscape gardener Simon Sharples has also seen his monthly mortgage payments double.

Landscape gardener Simon Sharples has seen his monthly mortgage payments double

He is struggling to pay his bills and is already working 10-hour a day.

Some of his customers have already started paying him more because they know of his situation.

"It potentially could mean we would have to sell and downsize," he said.

"We're lucky in so much as we have quite a lot of capital within the house and the mortgage is relatively small.

"But the actual mortgage payments are quite steep and there is only so much work I can do to cope with those bills."

Wailim Wong of Citizens Advice Cornwall said people who were struggling with their mortgages needed to talk to their lenders now and seek help.

He said: "People will be taking out loans from elsewhere.

"It might even be from relatives and friends, just to try and get by or plug the gap, but that is really not a sustainable situation going forward. You are not going to be able to do that in the longer term."

Mortgage broker Andrea Drew from Landers Mortgage Services in Truro said there were things mortgage holders can do if there is still some time before they finish their fixed-term deal.

"They can overpay their mortgage if they can afford to, especially if they are on the advantage of the lower rates at the moment." she said.

"At least when their interest rate comes out for renewal in six months or 12 months time, their balance is going to be reduced."

Follow BBC News South West on Twitter, Facebook and Instagram. Send your story ideas to [e-mail].