Alarm at rapid increase in mortgage repossession orders in Northampton (Andrew Simpson)

Alarm at rapid increase in mortgage repossession orders in Northampton

August 20, 2008 11:00 AM

Houses in Lumbertubs Liberal Democrat Parliamentary Campaigner, Andrew Simpson, has expressed alarm at the rapid increase in mortgage repossession orders at Northampton Crown Court.

The Ministry of Justice published figures on August 15, 2008 showing that the number of mortgage possession orders between April and June 2008 at Northampton Crown Court were 51% higher than a year earlier (http://www.justice.gov.uk/publications/mortgatelandlordpossession.htm). Possession claims issued were 30% higher.

The 51% year-on-year growth in mortgage repossession orders from April-June at Northampton Crown Court is above the average increase for England & Wales which stands at 31%.

Andrew Simpson commented:

"This dramatic increase is very worrying. We look set to see the highest level of repossessions at Northampton Crown Court for at least 10 years."

"Around the country, thousands of families are now paying the price for the Government letting the economy get hopelessly out of control.

"With rising mortgage repayments and sky high food and fuel costs, more and more people's budgets are being driven to breaking point."

"There is a lot of helpful advice available to people in financial difficulty - for example from the Citizens' Advice Bureau - but we also need a change in the rules."

"If we are to avoid the mass repossessions of the 1990s, it's vital that the Government creates a statutory code of practice to ensure that lenders only ever repossess as a last resort."

"This should not just apply to the big banks but also to the large number of secondary lenders who are using court action to pursue their debts in a very aggressive way."

ENDS

Notes to Editors

See latest Q2 figures at:

http://www.justice.gov.uk/publications/mortgatelandlordpossession.htm

Previous years figures at:

http://www.justice.gov.uk/docs/stats-mortgage-landlord-historic-87-07.xls

10 year rate being exceeded assumes that number to date (428) will be approximately double that by the end of the year. The previous highest year was 1992 (830).