Response to Financial Services Authority's new report
22 January 2009
response to the Financial Services Authority’s (FSA) new report on
mortgage possessions, Graeme Brown, Director of Shelter Scotland, the
housing and homelessness charity, said:
“These figures (1) show just how difficult and miserable 2009 will be for homeowners. With repossessions up 92 per cent in the last year, 60,000 new cases of arrears and an estimated 500,000 homes in negative equity across the UK, we are without question engulfed by a housing crisis worse than the 1990s crash.”
Mr Brown added: “These new figures are not just numbers, they are heartbreaking tales of people losing their homes. While we welcome the additional money committed to the Home Owners’ Support Fund by the Scottish Government yesterday, (Wednesday, January 21, 2009) it will help just some of those in trouble (2).
“It is vital we see more investment from the Scottish Government towards affordable rented homes to help ease the housing crisis. We know times are tough right now, but a home for anyone who needs one is the mark of a modern and decent society.”
FSA statistics on mortgage lending: January 2009.
2. The Scottish Government’s own statement on January 21, 2009, “Responding to the changed economic climate: more action on housing” acknowledged the expanded mortgage rescue scheme would help over 200 households this year. See http://www.scotland.gov.uk/Resource/Doc/1125/0076470.pdf (page 10 of 15).