Survey finds larger lower-income families most likely to borrow for essentials

A survey suggests larger families on lower incomes are more vulnerable to financial hardship (Alamy/PA) -

Families with lower incomes are still facing acute financial challenges a year after Labour’s election victory, with larger households the most at risk of relying on loans for everyday essentials, research suggests.

A survey found less well-off families with three or more children are now more likely to be behind on their bills than in 2022 when the research began, while the percentage forced to borrow for food, heating and toiletries has also hit a high of 71%.