UK repossessions rise to 92 Percent
Posted on January 23rd 2009
In the 3 months up to September last year the number of homes repossessed doubled making many more people homeless.
The FSA have warned that there was a sharp rise in the number of homeowners that have missed at least one mortgage repayment meaning 340,000 borrowers were in arrears at the end of September. This was a 24 rise from the same period in 2007.
The Department of Communities released figures yesterday to say that families that are on the council housing list have risen to £1.8 million from £1.6 million.
The government has committed £200 million to be used to expand a range of schemes that will be aimed at tackling the large increase in repossessions.
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