House Repossessions Rise 40%
House repossessions rose by 40% in the first quarter of this year with the number of people in arrears with their mortgage payments reaching 300,000.A total of 9,152 people had their houses repossessed in Q1 2008, up 41% on the same period last year when the number totalled 6,471.
In 2007, there were 27,863 repossessions, with the Council of Mortgage Lenders expecting this figure to rise to 45,000 in 2008.
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