Figures from the Financial Services Authority have shown that over the course of 2008 the level of home repossessions increased by around two thirds, as an increasing number of homeowners struggled to keep up with their mortgage repayments in the difficult financial climate.

Last year the Council of Mortgage Lenders predicted that the number of repossessions in the UK could reach as many as 75,000 over the course of this year, which is a worrying figure in itself.

With the downturn in the economy that has thrown markets all over the world into a slump in recent months, the number of homes being repossessed by lenders is increasing at a rapid pace.

During the third quarter of last year the number of people that were losing their homes nearly doubled, according to recent reports.

There have been some very worrying reports over recent months about the level of repossessions expected in the UK. According to recent reports the number of people facing repossession has risen by 20% in the past year, and the Council of Mortgage Lenders recently announced that the number of people that lose their homes through [...]

A recent report has shown that the number of people in the UK who are at risk of losing their homes through repossession has rocketed by nearly 20% in the past year. Homeowners have been hit with a variety of rising costs over recent months, which have seriously affected the ability of many homeowners to [...]

Beware, the Repo man
Your home is the security the lending company holds in case you stop making repayments into your mortgage. The worst that can happen is, they will repossess you house. But why does this happen?