Zurdito
9th May 2008, 15:56
http://news.bbc.co.uk/1/hi/business/7391772.stm
The number of homeowners facing repossession orders after failing to keep up with mortgage payments is up, says the Ministry of Justice.
It says the number of orders made by the courts in England and Wales at an early stage of the repossession process rose 17% in the first quarter of 2008. There were 27,530 orders made, up from 23,438 in the same period of 2007.
The credit crunch has led to more expensive repayments for new mortgages and a cut in the availability of deals.
Claims and orders
The number of mortgage possession claims - the first stage of the repossession process when homeowners are threatened with action - was also up. There were 38,688 claims in the first three months of the year compared with 33,344 in the same period of 2007, a rise of 16%. This was also 7% higher than the final three months of 2007
Claims and orders
The number of mortgage possession claims - the first stage of the repossession process when homeowners are threatened with action - was also up. There were 38,688 claims in the first three months of the year compared with 33,344 in the same period of 2007, a rise of 16%. This was also 7% higher than the final three months of 2007.
The number of homeowners facing repossession orders after failing to keep up with mortgage payments is up, says the Ministry of Justice.
It says the number of orders made by the courts in England and Wales at an early stage of the repossession process rose 17% in the first quarter of 2008. There were 27,530 orders made, up from 23,438 in the same period of 2007.
The credit crunch has led to more expensive repayments for new mortgages and a cut in the availability of deals.
Claims and orders
The number of mortgage possession claims - the first stage of the repossession process when homeowners are threatened with action - was also up. There were 38,688 claims in the first three months of the year compared with 33,344 in the same period of 2007, a rise of 16%. This was also 7% higher than the final three months of 2007
Claims and orders
The number of mortgage possession claims - the first stage of the repossession process when homeowners are threatened with action - was also up. There were 38,688 claims in the first three months of the year compared with 33,344 in the same period of 2007, a rise of 16%. This was also 7% higher than the final three months of 2007.