Corby named England’s biggest repossession hotspot
Wednesday, 22 June 2011 11:08 AM
Corby in the East Midlands has been revealed as England’s biggest repossession ‘hotspot’.
Data released by the housing and homelessness charity Shelter details the areas with the highest proportion of homeowners who have been issued with a possession order.
Shelter conducted the research by analysing the latest Ministry of Justice data on rates of claims leading to possession orders per 1,000 households across each local authority.
Its experts have predicted repossessions will rise to 45,000 next year, and 65 local authorities were identified as repossession ‘hotspots’ with Barking, Dagenham and Newham in London all rivalling Corby.
Knowsley in the North-West and Thurrock in the East of England were also singled out as being areas with a high level of repossession threats.
Campbell Robb, chief executive of Shelter said: "We know only too well that the combined pressures of high inflation, increased living costs and stagnant wages are really taking a toll on people.
“All it takes is one thing like job loss to tip people over the edge and into the spiral of debt, repossession and, ultimately, homelessness.
"And with interest rates due to increase in the near future, this research is a clear warning sign of difficult times ahead for many thousands of homeowners across the country.”
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