Repossessions set to soar
3 November 2009
Shelter Scotland is warning that mortgage repossessions are set to increase unless radical action is taken.
Sheriff Court figures show that increasing numbers of people are facing losing their home in Scotland as the recession deepens. The statistics show a 20 per cent rise in mortgage actions taken to court in 2008-09 and a 50 per cent rise in decrees granted in the past year in Scotland.
At Shelter Scotland's conference 'Tackling mortgage repossessions: the Scottish approach', Graeme Brown, Director of Shelter Scotland commended Scottish Government proposals to support struggling home-owners and urged lenders to give the proposals their full and unequivocal backing.
He said: 'The action the Scottish Government has taken to offer additional protection to homeowners has been timely, especially with Scotland's flagship commitment to give everyone the right to a home by 2012 growing ever closer.
'It is right to scrutinise the proposals carefully. But the industry must not let that drift into carping about unnecessary regulation. Lenders grumbling that measures are excessive are as guilty of misreading the public mood as MPs complaining about tighter regulation of expenses.
'Radical action is needed at a time when more families than ever are losing their homes. Without that repossessions are set to soar'.
The conference provides the first major opportunity to discuss the recommendations of the Scottish Government's Repossessions Working Group published earlier this year and to hear about the Home Owner and Debtor Protection Bill on mortgage repossessions which has now started to go through the Scottish Parliament.
