Private renters go on fewer holidays, save less money and are more likely to make forced cutbacks than home owners according to a survey.
Some 31 per cent of private tenants have less than £100 in savings, compared to 15 per cent of mortgage-holders. Owners are also twice as likely as private renters to view their income as sufficient.
The survey, by financial services firm Momentum, claims tenants “send roughly half their salary” to their landlord each month.
Some 19 per cent of private renters cut back on food in the last year; 19 per cent went without a holiday in the same period, compared to 15 per cent of those with a mortgage.
Three in five private renters currently do not have a pension, compared to just over a quarter of mortgage-holders.