High homes repossession risk for North Somerset
PUBLISHED: 11:00 29 June 2012
NORTH Somerset is in the top 10 for home repossessions claims in the South West, new research has revealed.
Homeless charity Shelter has released figures for 2011-12 ranking the area eighth out of 36 local unitary authorities for the number of repossession claims per 1,000 homes, making the area a high-risk hotspot according to the charity.
North Somerset is also ranked 216 of 324 authorities nationwide, according to the figures compiled by the Ministry of Justice.
Chief executive of Shelter, Campbell Robb, said: “Most people think repossession will never happen to them, however rising unemployment, high living costs and high house prices mean that many people in the South West are living close to the edge already and risk falling into a spiral of debt and repossession.
“The journey from being a homeowner to becoming homeless is frighteningly swift, with just one small thing like a wage cut, a health problem or a job loss meaning that a family can no longer meet their mortgage payments.
“ When repossession happens, the impact on families is devastating – research shows people think repossession is worse than having to fight a child custody battle.”
Mr Robb appealed for those getting into mortgage problems to contact Shelter on 08088 004444 or go to www.shelter.org.uk/advice