The government has been accused of being complacent about the state of the UK’s housing market as the rate of repossessions is expected to increase considerably.
Many thousands of families are faced with the threat of repossession and the Liberal Democrat economic spokesperson Vince Cable has claimed that the government should have done more to help them avoid this fate in recent years.
With so many people dealing with debt management issues, Mr Cable has insisted that the UK’s housing market could be set for a crash and that it is “inevitable” that the rate of repossession will increase this year.
“For far too long this government has had a complacent attitude towards the housing market,” he said.
“Ministers have failed to put in place any preventative measures to stop a crash”.
Earlier this week, Mr Cable warned that there could soon be a trend toward “mass bankruptcy” in the UK as debt management problems worsen for households around the country.