(1888PressRelease)
May 10, 2007 - Figures released by the Department for Constitutional Affairs show the number of possession claims was 33,715 for the first three months of the year - up by one per cent on last year's equivalent figure.
A one per cent rise in the number of mortgage possession orders was also recorded in the year's first quarter, with 21,931 made in total.
Mortgage possession orders are made when a homeowner falls behind on payments, and an eviction is sought.
"The interest rate rises since August have clearly started to put some mortgage owners under financial pressure and with further hikes on the way household finances will feel the pinch, resulting in 52 repossessions per day," confirmed David Stubbs, senior economist for the Royal Institution of Chartered Surveyors.
"However, many mortgage owners who get into trouble with their payments are often able to avoid repossession by selling their home."
Those in trouble financially could also opt to sell their homes to National Homebuyers, and then subsequently rent them back.
"People are finding themselves under huge amounts of pressure to keep up the ever increasing mortgage payments and a frighteningly high per cent are finding themselves facing there worst nightmare of repossession," said managing director Julian King.
"We are seeing month on month rises in calls from people who are in this situation and feel very pleased to be in a position to help people by purchasing their homes and allowing them to remain living in their homes as tenants."
If you are wanting to sell your property and rent back or are simply wanting to sell your property quickly and move on and would like to contact National Homebuyers then you can call them on 0870 979 0900 or visit www.nationalhomebuyers.co.uk.
