ONE IN 20 homeowners do not use a direct debit to pay their mortgage each month, putting themselves at risk of missing payments, a survey has suggested.
Around 5% of people with a mortgage have not set up a direct debit, opting to pay by cash, cheque or even debit card each month instead, according to financial website Moneybasics.co.uk
But the study found that people who did not have a direct debit accounted for nearly two-thirds of the 11% of homeowners who have missed a repayment during the past three years.
