Repossession orders soar

The number of homeowners in England and Wales facing repossession after falling behind on their mortgages has risen.

The Ministry of Justice said 28,658 orders were made by the courts in England and Wales in the second quarter of 2008.

That was up 24% on the same period in 2007 and 4% higher than the first quarter of 2008.

The figures come a week after lenders' data for actual repossessions across the UK also showed a leap in numbers.

Be the first to comment

Nobody has made any comments on this entry - be the first to have your say below.





More Recent News

  • New Year same trouble Alex Coxall 6 Jan. 2009 The 2009 RICS forecast predicts a further fall this year of 10% in average property price, which would mean a peak to trough drop of 25%. The predictions are based on the continued reluctance of lenders to lend and the increasingly glum economic climate we are facing. Read more
  • Darling considers credit guarantees Bloomberg.com 11 Dec. 2008 Dec. 10 (Bloomberg) -- U.K. Chancellor of the Exchequer Alistair Darling is considering credit guarantees for households and companies to spur bank lending, a person familiar with the plan said. Read more
  • Rics figures show November fall Alex Coxall 11 Dec. 2008 Figures released by the Royal Institution of Chartered Surveyors (Rics) show that property prices have continued to decline during November. Read more
  • Price drop slows slightly Alex Coxall 27 Nov. 2008 The rate of house price drop fell in November according to figures released by Nationwide today. The market however remains nearly 14 % lower than it was a year ago, as buyers remain worried and lending remains curbed. Read more
  • Housing market Downfall 27 Nov. 2008 Famous scene from an award winning film reworked. Read more
More news