Scottish repossessions set to soar
News Article Date: Wednesday 04th of November 2009
Shelter Scotland is warning that mortgage repossessions will rise sharply in the months ahead, unless radical action is taken.
According to the homeless charity, Scottish Sheriff Court figures show a 20% rise in mortgage actions taken by courts between 2008 and 2009, and a 50% rise in decrees for ejection granted in the past year.
The charity’s director, Graeme Brown, is calling for radical action and says he commends Scottish Government proposals to support struggling home-owners.
Currently, ministers are working on the Home Owner and Debtor Protection (Scotland) Bill.
The new measures should reduce the risk of people losing their homes by demanding that action taken by lenders is examined closely by the courts to ensure every reasonable alternative to repossession has been considered.
However, Mr Brown warns that lenders must not let proper scrutiny of the proposed legislation drift into “carping” about unnecessary regulation at a time when more families than ever are losing their homes.
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