Orders for repossession rise
The number of claims and orders for repossession going through the courts has shot up since last year, the Ministry of Justice has revealed.Across England and Wales, 28,658 mortgage possession orders were made in the second quarter of 2008, 24 per cent higher than the same period last year and 4 per cent higher than in the first quarter of 2008.
The number of mortgage possession claims issued rose to 39,078, which is 17 per cent higher than in the second quarter of 2007 and with no change from the first three months of this year.
The figures relate to court activity which may not always result in possession as 48 per cent of mortgage possession orders were suspended in the second quarter of 2008.
This compares to 46 per cent in the same period last year and 47 per cent in the first quarter of 2008.
Landlord possession actions have also gone up, with claims at 37,609, two per cent higher than the same time last year, and orders at 28,042 which is eight per cent higher than the second quarter of 2007.
The rise in mortgage and landlord court actions reflects the growing difficulties homeowners are facing in light of the squeeze on credit.
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