‘My mortgage costs have tripled since Covid – I reached breaking point’

“I was at my breaking point. I was having panic attacks, struggling to sleep, and feeling like I was failing my kids,” Lisa Lealman said.

Earlier this year, Ms. Lealman, her husband and their four adult children were in danger of being evicted from their family home because of unpaid mortgages. His repayments had skyrocketed during the Covid pandemic, from £420 to £1,100 (a 161 per cent increase), leaving him in financial trouble.

“I couldn’t really see a way out and felt completely alone,” said the 56-year-old from Surrey. Independent.

After receiving legal guidance from Shelter, he agreed a repayment plan with the bank for £1,900 and was owed £800 a month. But this means her housing bill has more than tripled in less than five years, and her children are contributing too.

New research from the housing charity shows the mother-of-four is not alone in her struggle; 40 per cent of working people in the UK say they have stayed up at night worrying about how they will pay for basic housing in the last six months. This equates to more than 12 million working adults.

According to research conducted by Savanta in collaboration with HSBC UK, a third (32 percent) of respondents said they had to cut back on food and groceries to cover the costs.

Another quarter (24 per cent) said they had to reduce heating, while 16 per cent said they had to sell their belongings.

Miss Lealman is an unqualified special educational needs and disability teacher, meaning she is paid less than the average teacher and also supports her autistic son. Her modest income, combined with that of her other children, who all work in hospitality or retail, means money is tighter than ever.

He said: “One of the hardest things as a homeowner is the panic when things break. Our boiler is almost dead and I’m like, ‘Please just hold on a little longer.’

“Please don’t let the tire go flat, I have an old dog and I don’t want it to get worse, I don’t even have a passport, I haven’t been on holiday for a long time but I don’t have the strength to renew my passport.

“I give my all to my job every day and I can’t even go out to dinner, I can’t even get my hair done. There’s nothing in my fun bank right now.”

Ms. Lealman explained that she was still jointly mortgaged with her ex-husband, the father of her children, and therefore could not modify the mortgage or even sell the property without his cooperation.

As a result, she and her husband now share the same room, and so do their two sons and two daughters.

“We looked at renting, and that’s even more than what we’re already paying, and you know, it just feels impossible,” he added.

Interest rates have risen rapidly during the Covid pandemic, with bank interest rates rising from 0.1 per cent throughout much of 2020 and 2021 to 5.25 per cent by the end of 2023. It has fallen to 3.75 per cent in recent months, a post-Covid low, but is still much higher than pre-pandemic levels.

Approximately 5,160 homeowners’ mortgaged properties were repossessed last year; This is a 39 percent annual increase compared to 2024. As of the third quarter of the year, this level was a staggering 51 percent higher than in the same period in 2024.

The lag between rising rates and the level of repossession comes about because most homeowners have fixed-term contracts (usually two or five years), meaning they don’t feel the effects of the spike until that period ends.

Nadeem Khan, Shelter’s hotline manager, said: “As millions of people feel the effects of sleepless nights spent worrying about how they will pay for basic accommodation, this new research shows the impact of the housing emergency on people’s mental health across the country.

“Every day our frontline teams hear from young people, older people and parents who are under huge pressure, struggling with impossible compromises to make ends meet… Getting people in touch before they reach crisis point can make a big difference.”

The charity added that, together with HSBC UK, anyone feeling the negative impact of housing costs can get help. visit website for assistance, by offering a helpline and personal advice centres, or by contacting their bank for broader financial resilience support.

A government spokesman said: “We recognize the pressure the cost of living is putting on households and are providing support.

“The mortgage agreement, signed by lenders covering more than 90 per cent of the market, provides flexibility for homeowners facing difficulties by allowing them to switch to interest-only payments or extend their mortgage by six months. “For those in rented accommodation, we have changed the law to protect tenants from excessive rent increases.

“This sits alongside other cost-of-living measures including help with energy bills and increases to the national living wage.”

If you are experiencing feelings of distress or finding it difficult to cope, you can speak to Samaritans confidentially on 116 123 (UK and ROI), email jo@samaritans.org or visit . Samaritans Website to find details of your nearest branch.

If you are a US resident and you or someone you know needs mental health help right now, call or text 988 or visit: 988lifeline.org To access online chat on the 988 Suicide and Crisis Lifeline. This is a free, confidential crisis helpline available to anyone 24 hours a day, seven days a week. If you are in another country you can go www.befrienders.org To find a helpline near you.