Home reposessions highest since 1995

February 12, 2010

Home reposessions have risen according to recent figures.
Around 46,000 people sadly lost their homes in 2009 the highest since 1995 and 15% more than 2008, according to the Council of Mortgage Lenders.
These figures were down on them predicting the figure would be around 75,000.
Through rising unemployment, fewer people lost their homes than expected, this was down to low interest rates & the Government schemes introduced to help people who were struggling to keep up with their ongoing mortgage repayments.
The prediction is 53,000 reposessions will take place and 205,000 people will end up in arrears by the end of 2010.

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