Stretched householders ‘at risk of repossession’

The charity has said it is concerned about the number households that are struggling to pay their mortgage, putting them at risk of property repossession.

National debt policy officer Peter Tutton said that housing debt is one of the fastest growing issues of concern for the charity.

“Our debt enquiry figures suggest that these are also the households most likely to be squeezed by the rising costs of other essential spending like council tax and utilities,” he commented.

“We would urge anybody in arrears to talk to their lender and get independent advice as soon as possible.”

The charity also urged anyone who is taking on a new mortgage to seriously consider whether they are in a position to afford repayments.

Citizens Advice’s concerns were in response to findings by the Council of Mortgage Lenders which indicates that the number of repossessions in 2006 was 65 per cent higher than in 2005.