A homeowner who could face losing his property because increasing mortgage costs are set to outgrow his benefits allowance fears “a bloodbath” of repossessions. Nicholas Wilson, from Hastings, East Sussex, could face losing his home after struggling to afford his mortgage payments, which he says have almost doubled since February.
The 65-year-old, who is awaiting a diagnosis for suspected cancer, said it is “impossible to even contemplate” the stress of losing his home and warned of the mental health impact on mortgage holders amid rising costs.
“I’ve been ill with depression for a long time and it’s just impossible for me to even contemplate losing my home," he said. “Trying to find somewhere to rent as somebody on benefits, and then potentially somebody undergoing treatment for cancer, I just can’t think about it.”
