18th May '09 - Mortgage Possession Claims 'Have Fallen'
Posted on Monday, May 18th, 2009 at 5:06pm
During the first quarter of 2009, 22,609 mortgage possession claims were issued on a seasonally adjusted basis, new figures show.And although this could appear bad news for the successful debt management of households, this statistic is 42 per cent lower than the first quarter of 2008 and 13 per cent lower than the fourth quarter of last year, the Ministry of Justice reveals.
Further findings which could be good news for the debt management outlook of Brits is that 47 per cent of mortgage possession orders were suspended.
And 44 per cent of landlord possession orders made through the accelerated and standard procedures were suspended.
"In the current climate, where 800 repossessions happen a week, it is vital that lenders adhere to the standards in the protocol," Joanna Elson, chief executive of the Money Advice Trust, said in a joint press release with the Citizens Advice Bureau about the mortgage and secured loan debt management difficulties faced by consumers.
Compare debt management options with Trapped.co.uk today

RSS Feed