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18/08/2009
Landlord repossession figures up |
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The number of repossession orders made on landlords of private rental property rose in the second quarter of this year, Ministry of Justice figures have revealed.
A seasonally-adjusted total of 26,215 mortgage possession claims were made during the three-month period, which was 14 per cent up on the first quarter of 2009, although also 32 per cent down on the same period in 2008.
However, the landlord possession claims were down by three per cent on the first quarter and seven per cent down on the second quarter of 2008.
Those potentially facing such action may wish to speak to a property lawyer.
Overall, the buy-to-let market is gaining in strength, the Council of Mortgage Lenders has suggested.
Its latest figures out last week showed that the number of buy-to-let mortgages in arrears fell by 17 per cent, from 35,600 to 29,400.
The data also revealed that arrears amounting to more than 1.5 per cent of the balance dropped from 28,800 to 22,900 over the same period.
Written by Pauline Adams
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