Fewer people risk losing their home

The number of people at risk of losing their home through repossession is falling in the north of the county.

In the first three months of this year there were 265 mortgage possession claims lodged in Northamptonshire, compared with 330 for the same period last year.

In 2009 the number was 395 for the first quarter of the year and for 2010 the figure was 330. In the first three months of this year there were 25 possession claims lodged in Corby, 40 in Kettering, 25 in Wellingborough and 35 in East Northants.

For the same period last year the figures were 60 for Corby, 30 in Kettering, 35 in Wellingborough and 45 in East Northants.

Jonathan Chapman, managing director of Corby-based Get Wise, which helps bring disused properties back into use, said: “This is a result of lenders keeping a cap on repossessions. I think the situation could change soon if interest rates go up. At the moment repossession orders are not being enforced.”

According to the Council of Mortgage Lenders 9,600 homes were repossessed nationally in the first three months of 2012, the same number as a year ago, .

The latest figure is a 10 per cent increase on the fourth quarter of 2011, but the lenders say said this represents a normal seasonal pattern.

Jim Yates, director of Corby estate agents Yates Walker, said: “We are not seeing anything like the number of repossessions that we saw at the beginning of the 1990s.

“It’s a result of the low interest rates and also lenders are better able to help people in financial difficulties.”