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Consumer Home
05 May 2006
People seem to be having increasing trouble with mortgage repayments, with mortgage possessions on the rise.
Government statistics showed that the number of mortgage possession actions entered in county courts in the first quarter of 2006 stood at 33,442 - 29 per cent higher than at the same time last year.
The number of mortgage possession orders made - where a claimant can apply for a warrant to have the defendant evicted - rose by 57 per cent from last year, although 50 per cent of these were suspended.
Figures from the Council of Mortgage Lenders showed that the number of properties actually taken into possession by mortgage lenders last year was 70 per cent higher than in 2004.
The numbers of mortgages in arrears of three to six months rose to 59,700 at the end of 2005, up 11 per cent from the end of 2004.
If you are having trouble keeping up with your mortgage and are worried about possession, order your credit report now to view your past and present credit commitments.
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