Government has not gone far enough to prevent repossessions

Commenting on news that over 11,000 properties were repossessed in the last 3 months - a 12% rise - and that 168,000 households are now in arrears, Liberal Democrat Shadow Chancellor, Vince Cable said: "It is clear that in the face of this recession more and more families are simply unable to make ends meet.

"Even with falling food and energy prices, some families have already been stretched to breaking point by colossal debts and the high cost of borrowing.

"The steep rise in the number of people in arrears makes it highly likely that a flood of repossessions is just around the corner.

"This is very much a nationwide problem, with both the North and South being hit hard by similar rises in repossessions.

"There is a real danger that Government proposals to prevent repossessions have not gone far enough. Following this month's landmark ruling there is a danger that some unscrupulous lenders will simply bypass the courts.

"We must ensure that people's homes are only ever repossessed as an absolute last resort."