Thousands of people facing eviction or repossession every week, says Shelter
Personal finance editor
Wednesday 21 May 2014
More than 215,000 homes in England are at risk of eviction or repossession, reckons Shelter. That’s the equivalent of 4,140 households being threatened every week.
And its research published today reveals that Newham in east London as the housing hotspot where people are most likely to lose their home, while Salford is the eviction and repossession risk capital of the north.
Shelter says that despite the Government’s boasts about the beginnings of economic recovery, growing numbers of families will still struggle financially in the future.
It warns that with the majority of families already struggling month-to-month with their housing costs and interest rates set to rise, many could soon hit danger levels.
Shelter’s free advice helpline is currently taking more than 480 calls each day and the charity advises hard-up people to get help as soon as possible to prevent arrears from spiralling out of control.
They also stress the importance of preparing for future mortgage or rent rises after yesterday’s alarming report from the Resolution Foundation that more than £2.3m householders could become “mortgage prisoners” when interest rates go up.
Liz Clare, helpline adviser for Shelter, said: “We’re hearing from a growing number of people who’ve reached crisis point and picked up the phone, often with the court papers in their hand. It’s natural to hope mounting bills and arrears will go away, but the best thing to do is get expert advice straight away. There’s no shame in getting help.”
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