Thursday, February 22, 2007
Repossessions on the rise
Homeowners who remember the housing crash of the early 1990s will shiver at the news of a rise in repossessions. Last year saw a 65 per cent rise in the number of homes repossessed after their owners couldn't keep up payments. That doesn't mean we should all start panicking. The 17,000 repossessions are sad but still represent just 0.38 per cent of all mortgages in the UK. You have a one in 260 chance of getting repossessed.