| last updated: Wednesday 18 March 2009, 08:40am |  Print this page |
Surge in house repossessions
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The number of repossessed homes soared by 68 per cent last year, new figures show.
A total of 46,750 properties were repossessed by lenders during 2008, up from 27,900 in 2007, the Financial Services Authority (FSA) said.
There was also a steep increase in the number of people who fell behind with their mortgage repayments during the final quarter of the year.
Around 68,000 people got into arrears during the period, a 13 per cent jump compared with the previous quarter, which had seen a 10 per cent rise.
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