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Britons who live alone and find it hard to make ends meet may want to consider taking out a loan, after a financial expert has warned that mortgages and rent stay the same price, no matter how many people reside in a property.

Single people spend twice as much money as those in a couple do, according to David Kuo, head of personal finance at Fool.co.uk.

"If you prepare yourself a household budget, you will find that many of the things out there are unrelated to how many people actually use those services," he says, although a secured loan could be one way for homeowners to pay for expensive ventures where they have to foot the bill alone.

Additionally, heating a property costs the same no matter how many live there, Mr Kuo adds, another area which people may find they are struggling financially with.

But for those needing a large amount of money to pay for home improvements or just to cover costs while income is tight, secured loans could be one option individuals may want to research.