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Today's announcement that confidence in the UK manufacturing industry is at a 30 year low is yet another knock for an industry which has been under pressure for over a decade. As the UK economy...
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Friday 15th August 2008
Around 26,500 repossession orders were issued to homeowners over the second quarter, new official statistics show.
This means that the orders - one of the first stages in a property's repossession due to failure to pay mortgage payments - have increased by 24 per cent over the past year.
A four per cent rise was also marked by the latest data over the first three months of the year.
Earlier this month, the Council of Mortgage Lenders released actual repossession statistics - in other words, referring to people who completed the process - for the first half of 2008.
It found that around 19,000 Britons had lost their homes over the first six months of the year.
Speaking to the BBC, Adam Samson at housing charity Shelter said: "Every day Shelter is seeing more and more ordinary hardworking people who are terrified of losing their homes.
"They are being punished by rising household bills, escalating fuel charges and food prices that are going through the roof."
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