Citizens Advice: CML repossession figures

Citizens Advice policy officer Peter Tutton said: “Local Citizens Advice Bureaux are seeing more people who are falling behind with mortgage payments and in some cases threatened with repossession, and we know some people are taking on mortgages that push them to the absolute limit. But our evidence also suggests that lenders are sometimes taking possession action as a routine response to arrears, instead of as a last resort. We want to see lenders making genuine efforts to reach agreement with borrowers on reasonable and affordable arrears repayment before taking court action.

“We would advise borrowers to speak to their lenders if they are having difficulties and to think very carefully about whether they can afford the amount they wish to borrow."