Repossessions in the UK have dropped for the third consecutive quarter.
However, this situation could reverse as the government is looking to make severe cut backs in public spending.
Even though this quarter has witnessed property repossessions decreasing another 4.1 per cent, this figure may increase once again as the government plans to cut financial support for those who have lost their jobs.
Since October 2009, mortgage lenders and charity groups have been warning that home repossessions could once more be on the increase.
In two months, the financial assistance ususally offered by the government to those that have lost their jobs is going to be removed.
This decision is going to impact upon several thousand Britons who are struggling financially which is likely to lead to a surge in repossessed properties .
Repossessions May Increase when Government Cuts Aid
Fri, 20 Aug 2010
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