New data reveals that tenants in Northumberland are spending more than 20% of their wages on rent
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According to research by insurance firm the Alan Boswell Group, tenants are having to surrender a huge chunk of their wages to their landlords.
Their statistics show that people in Northumberland, on average, are spending 22.43% of their wages on rent.
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Hide AdBut the situation down south is even worse. In London, the average tenant spends around 53.6% of their wages on rent.
Heath Alexander-Bew, director of personal lines at Alan Boswell Landlord Building Insurance, said there was a few things people could do to ease the stress of rising costs.
He said: “Apply a money-saving method that fits your situation – learn useful money-saving methods like topping up and maxing out on energy meters before March 31, ahead of the April price hike.
"If you are struggling to pay, you can also speak to your energy firm who may offer hardship funds for existing customers.
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Hide Ad“Check if you qualify for a tax credit claim. For those with lower income, you may be eligible to apply for a working tax-credit (Universal Credit), which enables you to receive extra cash to help with daily expenses. The government’s cost of living support page provides more advice on your specific needs, including the tax-credit claims and housing cost support.
“Other cost of living services are readily available for the public, such as food banks to help individuals and families alike struggling with the current cost of living.”