Repossession risk remains

12 August 2010

A man getting advice from Shelter adviser

The Government must keep funding for debt advice services to help the thousands of families at risk of arrears and repossession, Shelter has urged.

Responding to new Council of Mortgage Lenders figures out today showing there were 9,400 repossessions between April and June 2010, Kay Boycott, Shelter’s director of communications, policy and campaigns said:

‘Even though repossessions have dropped slightly over the last year we must not forget that they are still exceptionally high, with thousands of families going through the nightmare of losing their home.

‘With big threats on the horizon - interest rate rises, public sector unemployment, negative equity as a result of falling house prices – any one of these factors could cause people to fall into a dangerous spiral of debt, arrears and ultimately homelessness.

‘Whilst Shelter’s advisers will be here to help whoever’s next, it is vital that the Government plays its part too. With advice being so crucial to keeping people in their homes we urge the Government to keep funding for debt advice services in the upcoming Comprehensive Spending Review.’

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