The Citizens Advice Bureau reported a 35% increase in people reporting mortgage arrears this morning.They have also said that the total number of repossessions is almost double the amount it was 2 years ago at an unsettling figure of 27,100
This is an issue not just in a paticular area of the UK but Nationwide and I have seen an increase in the enquiries I have received from people looking to avoid repossession.
Today I had an enquiry from a woman who told me "I need to sell my house fast to avoid repossession" She had taken out a couple of loans to help her through a period when she was unable to work due to ill health. However she was now struggling to keep up with the loan repayments and her increased mortgage payments after the interest rate rose. She had fell behind over the last few months but had hoped a solution would arise for her. She had received a letter today threatening court action and realised she had to take some action. She gave us a call to see if we could help her. After talking to her on the phone today we are going out to see her tomorrow to discuss further the option of selling and renting back and how we can help her to avoid repossession.
