UK repossessions level highest since 2009

Mon, 30 Jan 2012

The number of homes repossessed in the UK across the third quarter of 2011 was the highest recorded since 2009.

Latest figures from the Ministry of Justice revealed a total of 16,600 properties were taken away from people during the three-month period - marking a rise of 20 per cent, Metro reports.

According to the statistics, almost half of the repossessions in this time were carried out on behalf of mortgage lenders, while 1,627 happened through private landlords.

In addition, 5,140 tenants were evicted by social proprietors, resulting in the overall figures hitting a two-year high.

Housing expert Dominic Lipnicki told the newspaper that rising unemployment levels are likely to result in more people being forced from their dwellings.

The industry figure stated: "Lenders are also becoming less generous with requests for payment holidays or interest-only payments and all of this will only have one result – more repossessions."

Last week, the Belfast Newsletter reported that new figures from the Department of Social Development revealed the number of homes repossessed in Northern Ireland have doubled in the last two years.

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