UK study finds 2.5 million households at high risk of financial vulnerability

A study by the Vulnerability Registration Service (VRS) and data firm Outra has found that nearly 2.5 million households in the UK are at a "high risk" of financial vulnerability or other problems and may need support to pay their bills.

The study was based on the number of households registered with the VRS, which notifies companies of financial problems affecting their clients.

It is estimated that 6.3 million households are at an "elevated" risk of vulnerability, meaning they may need some support to pay their bills.

The study suggests that the cost-of-living crisis in the UK is affecting many households, with inflation hitting consumers hard.

Supermarkets have reported that many customers have downgraded to buy the cheapest ranges.

The VRS and Outra survey found that the greatest pressure was felt in the north west and north east of England, where four in 10 homes were deemed to be at high or elevated risk of vulnerability.

The VRS register is designed to let landlords, banks, and utilities know that a household is struggling financially.