Repossessions rocket over 70 per cent

New figures have demonstrated a 71 per cent increase over the last year in the number of homes being repossessed with a study rise in the number of people falling behind with mortgage repayments as well.

The Financial Services Authority (FSA) has recorded 11,054 repossessions in the second quarter of this year, a rise of 71 per cent on the same period a year ago. The number of people falling behind with their mortgage repayments for at least three months meanwhile has meanwhile risen 16 per cent.

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