Repossession Hotspots
A study of the UK's repossession hotspots has shown that homeowners in Corby are most at risk of having their houses repossessed, with the largest proportion of people who have been issued with a repossession order over the last 12 months. Corby has a rate of repossession orders nine times higher than the lowest at-risk area in West Dorset.Other high-risk areas include Barking, Dagenham and Newham in London, Knowsley on Merseyside and Thurrock in Essex.
Not surprisingly, the high-risk of repossession areas coincide with areas of high unemployment, with unemployment averaging 9.6% in these areas vs 5.3% in the low risk areas. High concentrations were found around Tyneside, Leeds, Liverpool, the Wash, South East London and the Kent and Essex coastal towns.
In total, 9,100 had their homes repossessed in the first quarter of 2011, up 15% on the previous quarter.
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