50% Rise in Repossessions

As reported on bbc.co.uk, the Council of Mortgage Lenders has dropped a pretty big bombshell about the state of the UK housing market and the ability of people to repay.

A 50% increase in repossessions might not be the end of it. This figure may get substantially worse if the worldwide credit crunch affects the market also.

Next year might not be a good time to be relying on home equity to solve debt problems.

"These figures will no doubt set alarm bells ringing for hundreds of thousands of homeowners across the country" said Adam Sampson from Shelter whilst talking to the beeb.

With 80,000 people per month coming of low fixed rate mortgages the pressure on the average uk household is getting more and more.

If you are worried about your ability to meet current or future repayments you must seek advice sooner rather than later. Please call us - the sooner you do, the more options you might have available.

DCM Money Solutions Debt Helpline : 0845 120 1 120

 BBC News : Repossessions Rise