Re­pos­s­e­sions to rise across re­gion

Yorkshire Post - Property - - PROPERTY -

THE UK’s first re­gion­ally-based prop­erty re­pos­ses­sion fore­cast re­veals that 2,467 homes in York­shire could be seized by len­ders this year.

The fore­cast has been pro­duced by HML, the UK’s largest fi­nan­cial out­sourc­ing com­pany, and is based on a sam­ple of 320,000 mort­gage ac­counts which re­flect the gen­eral make-up of all UK mort­gages.

The re­poses­sions are blamed on low equity lev­els and an un­em­ploy­ment rate of 9.1%.

HML say that the first half of the year will see re­pos­ses­sions fall slightly. The great­est ef­fect will be felt in the sec­ond half of the year when pub­lic sec­tor cuts and con­tin­u­ing job losses im­pact on home­own­ers.

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