South Holland named repossession hotspot

Householders in South Holland in Lincolnshire have been urged to seek financial help early after the area was highlighted as a repossession hotspot.

According to the Spalding Guardian, the town's Citizen's Advice has strongly advised consumers who think they may be in danger to talk to a specialist adviser.

Its caution followed a report by homeless charity Shelter, which put the district in the top fifth for parts of the country where there is a greater danger of people losing their homes.

Money advice case worker Fran Laing said: "Our message would be that prevention is better than cure and anyone who can see they might be heading for trouble should come to us now."

She added that the Citizen's Advice is available to people who need help dealing with mortgage companies and who would like guidance as to following protocol with matters concerning arrears if they are trying to stave off repossession.

In addition, Ms Laing stated there was support available for people whose money problems have already gone too far.

The Shelter report said high levels of unemployment and the imminent interest rate rise could lead to householders in the area losing their dwellings.

South Holland was ranked 42nd out of 324 districts throughout the country, with a total of 45 repossession orders handed out in the 2010-11 period, which is 4.34 per thousand homes.

Chief executive of UK Asset Resolution Richard Banks told the Guardian last week that there was a danger of more repossessions when the interest rates increase again.

By Joe White