Search

date: 12 November 2009

embargo: For immediate release

Mortgage repossessions lower than expected

Commenting on new figures published today (Thursday) by the Council of Mortgage Lenders that there were 11,700 repossessions in the summer quarter of this year (July to September), TUC General Secretary Brendan Barber said:

'These figures suggest that the Government's intervention in the housing crisis is working.

'Government schemes are providing help for those who get into difficulty with their home loans and are ensuring that lenders at least follow proper procedures.

'This approach has headed off a return to the panic response of the banks to the last recession, when 75,000 families saw their homes repossessed in 1991.

'But every one of these figures represents a tragedy for the family about to lose their home. The Government needs to keep up the pressure on mortgage lenders to ensure that repossession is always the last resort.'

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

- Register for the TUC's press extranet: a service exclusive to journalists wanting to access pre-embargo releases and reports from the TUC. Visit www.tuc.org.uk/pressextranet

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (300 words) issued 12 Nov 2009