Mortgage lenders are attempting to repossess more homes of mortgage borrowers who are failing to make their mortgage repayments, official figures show.
An increase of 55 per cent in court orders made by mortgage lenders has been reported in government figures for the second and the third quarter of this year.
Court orders for repossessions by mortgage lenders totalled an estimated 19,887, the Department for Constitutional Affairs (DCA) reports.
The Council of Mortgage Lenders agrees that home repossessions are up from last year, but its figures are lower than those suggested by the DCA.
Mortgage lenders repossessed 4,640 homes in the first six months of 2005, according to the mortgage lenders' body. This is compared to 3,070 people defaulting on their mortgage payments in the same period last year.
The higher rate of repossession has been blamed by financial analysts on five interest rate increases between November 2003 and August 2004.
However, the repossession rate is not as high as in the nineties, when seven times more homes were repossessed.
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