HomeNewsUK News
Mortgage repossession orders up 17%
May 9 2008
The number of homeowners at risk of losing their homes has risen by nearly a fifth in the past year.
Government data showed that a total of 27,530 mortgage repossession orders were made during the first quarter of this year, up 17% from the same period a year ago. It is also a 9% rise compared to the last three months of 2007.
The number of repossession claims was also 16% up, at 38,688, compared to a year ago, and 7% higher than the previous quarter.
The data offers an early indication of homeowners' ability to cope with higher mortgage repayments as a result of coming to the end of short-term fixed rate deals following the impact of the credit crunch.
Site Tools
ic Wales Classifieds
E-Newsletters
FREE newsletters & audiobook
Receive the latest Welsh news, business and rugby direct to your inbox and download Kim by Rudyard Kipling as an audiobook. All completely for free. Read