Repossessions up 17% in Q1

9 May 2008

The statistics show that 27,530 repossession orders were made in Q1, showing a 9% rise from Q4 last year.

There was a similar increase in repossession claims which spiked 16% to 38,688 in Q1, compared to the same period last year.

There was a smaller rise in landlord repossessions during Q1, with 37,221 landlord repossession claims issued, just 4% higher than Q1 2007. A total of 28,503 landlord repossession orders were made in Q1.

Mel Mitchley, director of industry relations at Callcredit, says: “The rising cost of living is clearly hitting home and consumers are becoming increasingly concerned about their financial commitments.

“At Callcredit we have seen a 20% rise in the number of consumers checking their credit report in a bid to better manage their finances.”