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Peter Black and South Wales West Liberal DemocratsRepresenting Aberavon, Bridgend, Gower, Neath, Ogmore, Port Talbot, and Swansea |
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Black urges government to take action on increase in repossessions
November 12, 2007 12:00 AM
Peter at the CAB
The number of people facing losing their home due to mortgage arrears in Wales has risen dramatically the Welsh Liberal Democrat spokesperson for Communities, Culture, Housing and Social Justice, Peter Black, has said.
Mr, Black has published figures that show the number of claims issued in county courts, both applied for and granted, has started to increase. In 2004 approximately 4500 claims were applied for by lenders. In 2006 this figure was 8300. The number of orders made has risen from approximately 1100 in 2004 to 2800 in 2006. Figures available for 2007 so far show a further 5% rise in the number of claims issued since the same period last year and 10% rise in the number of orders made, although this figure does include a number of suspended orders.
"Given the sustained increase in house prices in recent years it was inevitable that some people would find themselves struggling to meet the repayments on substantial mortgages," said Mr. Black. "This recent surge in claims shows that the shortage of affordable housing in Wales is starting to force an increasing number of people to live beyond their means."
"The government has promised substantial action to deal with the affordable housing crisis however we have so-far seen precious little action from them. Prevention and debt-advice are essential parts of any strategy to deal with this issue, but we must also build more social housing to rent as well as promote schemes that will increase the supply of affordable homes for sale. All of this involves concerted action by the Government and local Councils as well as an injection of additional public investment. Unless that work gets underway soon then these repossession figures will continue to rise exponentially."
ENDS
Notes:
County Court Mortgage Possession Claims in Wales 1991 - 2006
Thousands
Claims issued Suspended orders Orders made
1991 10.2 3.5 4
2000 5.3 2.6 1.6
2001 4.5 2.1 1.4
2002 4.7 1.9 1.2
2004 4.4 1.5 1.1
2005 6.6 2.1 1.8
2006 8.3 2.7 2.8
First ¾ of 2007 6.7 - 4.4 (Includes suspended orders)
Sources: Regional Trends 38 and 39, ONS and Ministry of Justice
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