While repossessions dropped by 10% in the last figures issued by the Council of Mortgage Lenders covering April to June 2009, there were still over 11,400 repossessions made during that period. Surprisingly a quarter of those were voluntary-homeowners who have fallen into mortgage arrears but rather than seek help available from the Government or their lender, have instead handed in the keys or abandoned their home.
With the advice available via a range of resources, including Government help and advice from organisations such as Citizens Advice Bureau, households can get help to avoid the trauma of repossession.
At the start of October the government launched a new campaign that encourages people who are having difficulty keeping up their mortgage repayments to visit the website mortgagehelp.direct.gov.uk or to call the National Debtline on 0808 808 4000, to find out about the comprehensive range of support the Government has put in place at every step of the repossession process.
The video below offers help and advice from experts within the industry and also looks at some case studies:
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