| The total number of UK houses repossessed in 2008 | | | | or death. |
| is estimated to be in the region of 40,000. This is | | | | Often people are forced to move in a hurry once |
| already a high figure and the numbers for 2009 are | | | | evicted and this upheaval can also add to the |
| expected to be even higher according to the Council | | | | emotional stress of the situation. This will not only |
| of Mortgage Lenders. | | | | affect the homeowner but also their family as well. |
| The number of homes which were in arrears on their | | | | Children are often the biggest victims as they are |
| mortgage payments has also increased year on year, | | | | forced to move to a new environment, often a new |
| with an estimated 220,000 homes in arrears of over 3 | | | | school with no clear idea of why this is all happening. |
| months at the end of 2008. | | | | Parents are embarrassed to face their children as well |
| The Council of Mortgage Lenders which produces | | | | as their families and friends and explain the situation |
| these figures state that the number of houses | | | | they are facing. Repossessions can also lead to the |
| repossessed in 2009 will exceed the 2008 figures with | | | | break up of marriages and the breakdown of |
| the global economic crisis and credit crunch affecting | | | | relationships, so its important to know where to go for |
| more and more homeowners. | | | | help. |
| With unemployment figures rising and the number of | | | | Many companies advertise that they can stop |
| people expected to lose their jobs over this year due | | | | repossession etc and help your situation, but often |
| to increase, it is expected that 1 home will be | | | | these organizations are just trying to benefit further |
| repossessed every 10 minutes in the UK. | | | | from your awful circumstances. |
| Property Repossession can affect people in different | | | | Although mortgage companies are often sympathetic |
| ways. For the majority it is a very stressful time and | | | | to certain situations, failure to meet these payments will |
| usually occurs when coupled with other bad | | | | result in houses repossessed. |
| circumstances. For example, loss of job or break up of | | | | If you are facing repossession, Repossessed Homes |
| marriage could be a factor which can lead to | | | | UK can help you on advising what to do by providing |
| someone losing their home. It can also be due to illness | | | | free information and advice. |