Mortgage possession claims up 16%

The number of possession claims filed by money lenders and landlords has risen by around 16 per cent in England and Wales over the course of the past year, it has been announced.

According to the latest data from the Ministry of Justice (MOJ), more than 38,500 mortgage possession claims were made in the first three months of this year, which was seven per cent up on the previous quarter and 16 per cent up on the same period of 2007.

The MOJ has noted that not all claims lead to repossession but the rise could hint at the growing debt management problems facing families across England and Wales.

In response to the figures from the government, the Council of Mortgage Lenders (CML) has suggested that it currently expects to see around 45,000 repossessions take place in the UK over the course of this year.

Last month, the CML made clear that it expected to see the scale of mortgage borrowing around the country decrease throughout this year as the current trend continues.