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England’s repossession hotspots revealed

Corby in the East Midlands is the top repossession hotspot in England, according to research by Shelter.

The town has the highest rate of homeowners at risk of repossession and is closely followed by Barking, Dagenham and Newham in London, Knowsley in the North West and Thurrock in the East of England.

Shelter conducted the research by analysing the latest Ministry of Justice data on the rates of possession orders per 1,000 households across every local authority.

The charity says the results also reveal worrying groups of local authorities with high possession rates in parts of the country.

These include a line of repossession hotspots across the North from Merseyside to the Humber, large parts of Tyneside, a cluster of Kent and Essex coastal towns and a collection of areas around the Wash in East Anglia.

The research also found a strong link between unemployment and rates of possession orders, with unemployment having risen at more than double the rate in hotspots, compared to the least at risk areas. 

Campbell Robb, chief executive of Shelter, says the survey paints a frightening picture.

He says: “We know only too well that the combined pressures of high inflation, increased living costs and stagnant wages are really taking a toll on people.

“All it takes is one thing like job loss to tip people over the edge and into the spiral of debt, repossession and ultimately homelessness.

“And with interest rates due to increase in the near future this research is a clear warning sign of difficult times ahead for many thousands of homeowners across the country.”  
 

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