According to the Department for Constitutional Affairs, mortgage repossessions increased during the first quarter of 2005 by 35%. The Government department published the figures for mortgage possession applications taken in English and Welsh county courts as 25,869, while the amount of orders made show a 25% increase on last years figures at 14,048.
Our view
Given interest rate rises and job uncertainty it is no surprise that house repossessions are on the up. It is predicted that arrears and possessions will continue to increase, but still remain low by historical standards.