House Repossessions Rise
Published / Last Updated on 22/06/2008
House Repossessions Rise
According to figures from the Ministry of Justice, the number of house possessions has soared by 17 per cent in the first three months of this year, compared with the same period in 2007. More than 27,500 mortgage repossession orders were made in the county court – 9 per cent higher than in the fourth quarter of 2007. There were also more than 37,000 landlord repossession claims in the first quarter of this year – up 4 per cent on the same period last year.
Our view
No one wants to see repossessions rise, but given the pressure on costs and the economy it is a part of life and for some households.
Our advice is that if you get into difficulty, contact your mortgage lender sooner rather than later.
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