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Soaring mortgage costs ‘affecting mental health of almost a third of people’
Soaring mortgage costs ‘affecting mental health of almost a third of people’
Almost a third of people in England and Wales said their mental health has been affected by soaring mortgage costs in the past year, according to new research. For people with existing mental health problems, nearly four in 10 said the rising costs had worsened their mental health. Mind, the UK’s biggest mental health charity, also said it had seen a 55% increase in the number of people contacting its Infoline over the last 18 months about financial difficulties, including welfare, unemployment and personal debt. The charity’s survey of 3,015 respondents across England and Wales in March and April came before Thursday’s news that the Bank of England had raised interest rates to 5.25% from 5%. The hike, which is yet another bid to get inflation under control, will put more pressure on mortgage holders. Mind’s survey – carried out by Censuswide – suggested that 29% of people had been affected by hearing about or experiencing increasing mortgage costs over the last year. Ten per cent said that it had affected their mental health a lot, the charity added. For people with existing mental health problems, some 36% said the increasing mortgage costs had made their mental health worse. Money problems and mental health often form a vicious cycle, and when we’re struggling to deal with one, the other can become much harder to manage, particularly when it threatens to impact our housing situation Vicki Nash, Mind The charity said younger people were particularly affected, with almost half (48%) of those aged between 16 and 24 saying that the mortgage situation had impacted on their mental health. Vicki Nash, Mind’s associate director of external affairs, said financial difficulties and mental health problems “often form a vicious cycle”. She said: “As we continue to grapple with the rising cost of living, news of yet another possible increase in mortgage rates will be difficult for many families to bear. “Money problems and mental health often form a vicious cycle, and when we’re struggling to deal with one, the other can become much harder to manage, particularly when it threatens to impact our housing situation. “We know some people are becoming so unwell that they need hospital treatment for their mental health. “When this happens the care they receive when they leave hospital is critical so we are calling for the introduction of comprehensive welfare checks, including of people’s financial situation. “These figures show this is a mental health emergency that everyone is going to need help to deal with. We know we can’t fix the cost-of-living crisis but support for your mental health is out there, and we are here for you. “This includes through Mind’s Infoline, online community, Side by Side and the useful information on our website that will be available throughout this difficult period.” Mind has a confidential information and support line which can be called on 0300 123 3393 between 9am and 6pm from Monday to Friday, or people can visit mind.org.uk. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Consuming foods with added sugars may increase risk of kidney stones – study Why TikTok is going wild for lip oil 5 late summer blooms to plant now
2023-08-04 16:35
Goalkeeper knocked unconscious recovering in hospital - club
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Goalkeeper Etienne Vaessen, knocked unconscious in a Dutch league match, has "passed a good night" in hospital, his club RKC...
2023-10-01 20:29
MLB views the UK as a gateway to European growth, with eyes on Paris and Germany
MLB views the UK as a gateway to European growth, with eyes on Paris and Germany
Major League Baseball has big plans for Europe with a reintroduction coming this weekend when the St. Louis Cardinals and Chicago Cubs square off for a two-game series in London
2023-06-21 21:48
Champions League fixtures today - your guide to Tuesday's games
Champions League fixtures today - your guide to Tuesday's games
Your guide to Tuesday's Champions League fixtures, including AC Milan vs Newcastle, and how to follow them on TV and live stream.
2023-09-19 07:15
En route to the moon, Russia beams back first mission images
En route to the moon, Russia beams back first mission images
The space race is on. Russia beamed back the first images from its Luna-25 spacecraft,
2023-08-16 01:03
Are There Nephalem Rifts in Diablo Immortal?
Are There Nephalem Rifts in Diablo Immortal?
Diablo fans are wondering if the Diablo 3 staple Nephalem Rifts are available in Diablo Immortal.
1970-01-01 08:00
What Happens if You Kill 5-Torg in High On Life?
What Happens if You Kill 5-Torg in High On Life?
What happens if you kill the secret boss 5-Torg in the game High On Life.
1970-01-01 08:00
Trevor Noah jumps into fan's car to beat traffic in Johannesburg
Trevor Noah jumps into fan's car to beat traffic in Johannesburg
The ex-Daily Show host's ordeal played out live on air as he ran late for an interview in Johannesburg.
2023-09-16 01:59
Anthony Richardson named Colts' starting QB for opener against Jaguars
Anthony Richardson named Colts' starting QB for opener against Jaguars
The Indianapolis Colts have seen enough of Anthony Richardson to name him their opening day starting quarterback
2023-08-15 23:54
Carmen Vargas: Authorities investigate Gilgo Beach serial murder suspect Rex Heuermann over 1989 unsolved murder
Carmen Vargas: Authorities investigate Gilgo Beach serial murder suspect Rex Heuermann over 1989 unsolved murder
Carmen Vargas' body was found dumped on the side of the Meadowbrook Parkway, just seven miles from Gilgo Beach murder suspect Rex Heuermann's Massapequa Park home
2023-09-08 16:27
Covid-19 Origins Remain a Mystery, Declassified Report Shows
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US intelligence agencies weren’t able to determine whether researchers at laboratory in Wuhan, China, who fell sick in
2023-06-24 09:34
Potential industry slowdown in toy sales weighs on shares of Hasbro and Mattel
Potential industry slowdown in toy sales weighs on shares of Hasbro and Mattel
Hasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors
2023-10-26 21:09