London residents may face repossessions

Tue, 13 Dec 2011

Homeowners residing in London could find repossession becomes a serious threat in the near future after research found the capital to have the highest eviction rates.

Carried out by Shelter, the study revealed thousands of people are at risk of losing their home in the city, with the 12 local authorities in the UK facing the most problems in this regard all being London boroughs.

Areas deemed at most risk include Barking and Dagenham, as well as Newham and Haringey.

Manchester, Peterborough and Slough were earmarked as possible repossession hotspots outside of London.

Campbell Robb, chief executive of Shelter, said: "As Christmas approaches, this research paints a frightening picture of thousands of families living every day with the fear of losing their home hanging over their heads."

The industry figure noted it is a "sobering thought" that so many communities throughout the UK are facing such difficulties at this time.

Earlier in the month, debt statistics released by Credit Action revealed more than 100 properties in the UK were taken into repossession on a daily basis across the third quarter of 2011.

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