| Repossession claims rise by 16% |
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| Written by Adrie van der Luijt | |
| Friday, 09 May 2008 | |
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The first quarter of 2008 saw a shock rise in mortgage repossession actions.
On a seasonally adjusted basis 38,688 mortgage possession claims were issued, 16 per cent higher than in the first quarter of 2007 and 7 per cent higher than in the fourth quarter of 2007. In the first three months, 27,530 mortgage possession orders were made on a seasonally adjusted basis, 17 per cent higher than in the first quarter of 2007 and 9 per cent higher than in the fourth quarter of 2007. Forty-seven per cent of mortgage possession orders were suspended compared to 47 per cent in the first quarter of 2007 and 46 per cent in the fourth quarter of 2007. During the first quarter of 2008, 37,221 landlord possession claims were issued using the standard and accelerated possession procedures on a seasonally adjusted basis, 4 per cent higher than in the first quarter of 2007 and the same as the fourth quarter of 2007. On a seasonally adjusted basis, 28,503 landlord possession orders were made through the standard and accelerated possession procedures, 10 per cent higher than in the first quarter of 2007 and 2 per cent higher than in the fourth quarter of 2007. Forty-one per cent of landlord possession orders made through the standard and accelerated possession procedures were suspended compared to 42 per cent in the first quarter of 2007 and 41 per cent in the fourth quarter of 2007. Related articles
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