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Repossession fears grow

Nearly 60,000 homes in the UK are at risk of repossession, government figures reveal. Data from the Housing statistics 2007 report, published last week by the Department for Communities and Local Government, show that almost 60,000 families with monthly disposable incomes below £1,000 are shelling out a staggering £750 a month on mortgage repayments. Julia Goldsworthy, shadow DCLG secretary for the Liberal Democrats, says: “There are 60,000 families who are teetering on the edge of losing their homes and are weighed down by debt. As living costs rise and the liquidity crisis starts to bite, families are being forced to cut back on essentials so they can keep a roof over their heads.”

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Time for a new approach to asset allocation

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