8,200 families at serous risk of losing their homes

OVER three out of every 100 mortgage holders have fallen more than 90 days behind in monthly repayments, despite interest rates being at record low levels.

Data published by the Financial Regulator shows the extent of the financial pressures that the economic downturn has placed on many households. Almost 8,200 families have received legal notices or been issued with court proceedings and are at serious risk of having their homes repossessed.

The findings reveal that various financial institutions held 331 repossessed properties at the end of September, while the number of people falling into arrears has almost doubled over the past 15 months.