Shelter Cymru has given a cautious welcome to figures released today by the Council of Mortgage Lenders, which show a slight drop in the number of repossessions and loans in arrears in the first quarter of 2010.
The number of repossessions across the UK was 9,800, down from 10,600 in the previous quarter and 13,200 in the first quarter of 2009, while the number of loans in arrears was down from 206,800 at the end of the first quarter of 2009 and 196,400 at the end of last year to 186,300 at the end of the first quarter of this year.
Director of Shelter Cymru John Puzey said: “While the drop in repossessions and arrears is welcome, we are very much aware through our day-to-day work of how quickly people can find themselves in difficulties when their circumstances change. The economic climate is still very uncertain and many households remain vulnerable.
“The Mortgage Rescue Scheme has been very effective in Wales, helping more than 600 adults and 300 children to remain in their homes, so we are very concerned that it should not become a casualty of cuts in public spending. As well as the distress caused to the households concerned, dealing with the fall-out of homelessness puts an enormous strain on local authorities’ resources at a time when they are already facing a great many financial pressures.
“We also urge anyone in arrears or at risk of falling behind with their mortgage payments to seek independent advice as soon as possible.”
Shelter Cymru provides free specialist advice, advocacy and legal representation for people in housing difficulties across Wales. Details of local services can be accessed by ringing 0845 075 5005 or visiting Shelter Cymru’s website www.sheltercymru.org.uk
