Charity warns of repossession rise

Homeowners have been warned by one of the UK's leading debt charities that an economic recovery could actually lead to a rise rather than a fall in property repossessions. 

The Consumer Credit Counselling Service (CCCS) said that lenders may move to repossess property from borrowers in arrears who they had previously shown leniency too as the economy – and housing market – improves.

“There is no doubt lenders have shown leniency towards debtors during the recession. However, this may have been partly determined by the markets,” Delroy Corinaldi, CCCS's director of external affairs said.

 

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