Repossession figures grim reading, says Teather

Commenting on today's report from the Council of Mortgage Lenders which shows that quarterly repossessions in Britain are up 50% in a year, Liberal Democrat Shadow Housing Minister, Sarah Teather said: "These figures make for grim reading.

"Despite the Government's attempts to grab headlines with their initiatives, the number of families being repossessed is still rising.

"Ministers should be ashamed that only one family has been helped by their mortgage rescue scheme, months after it was announced to great fanfare.

"Mortgage law needs urgent reform to give courts the power to ensure that repossessions are only ever a last resort."