Risk of repossessions `down in York`

16 June 2009

The number of people losing their homes because they cannot keep up with their mortgage repayments has fallen in York.

According to figures cited by the Press in York, 95 mortgage possession claims were issued in the city during the first three months of this year.

This compares with around 150 during the same period last year.

According to debt advisors at the local Citizens Advice Bureau, the statistics could be the first signs of economic recovery in the region.

However, manager at the bureau Rosemary Suttill added that the situation could be more complex than it appears.

She said: "It may be that the mortgage providers are seeing very little sense in repossessing homes because they have got a lot of properties on their hands because it`s not time for selling them on."

Research published recently by Legal & General found that among a group of mortgage advisors polled, more than half predicted that the industry will improve over the next three months.

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