The third quarter of the year has seen a considerable rise in the number of repossessions. The figures show that this quarter alone has seen a rise by 12% taken the amount of homes repossessed during this period, 11,300.
The number of borrowers who have gone into arrears has also risen in this quarter and now stands at 168,000, a rise of 8%. The figures show that many people are likely to lose their homes as the economy falls into recession. As the economical future looks bleak no-one will know how many people will fall into arrears or the chances of their homes being repossessed. It has been predicted that the next year will see times getting tougher and people will have to cut their costs by as much as possible to ensure that they avoid having their homes repossessed.
It is also proving tough for landlords with buy-to-let mortgages as they are struggling to rent out their properties.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment