Home Repossessions up to 40,000
The number of homes repossessed in the UK last year rose to 40,000. Despite this being fewer than expected by the Council of Mortgage Lenders, they did report a rise in the number of home owners simply handing back the keys to their homes.The CML expects repossessions to reach 75,000 this year as the full impact of the recession bites.
The level of areas has also risen, with 182,600 mortgages in arrears worth over 2.5% of the mortgage value, amounting to 1.57% of all mortgages, up from 1.08% in 2007.
If you are having problems with your mortgage payments and face repossession, contact quickmovenow.com - we may be able to help you.
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