Revealed: the nation’s repossession hotspot
Blackpool is the nation’s repossession hotspot, new analysis of figures from the Ministry of Justice has suggested.
The study by Sell House Fast, which looked at the most recent data covering July to September last year, calculated the proportion of possession claims per 100,000 households across the country.
And it found that Blackpool is the area with the highest proportion of claims, at just shy of 83 per 100,000 households. This was also a sharp increase from the same period of 2018, where there were 42.1 claims per 100,000 households in the town.
It is then a significant drop to Slough in second place, with 57 claims per 100,000 households. This again represents a notable increase from last year, when it stood at just 28 claims.
Other areas picked out as repossession hotspots include Thurrock which had 57 claims, Christchurch which saw 54, Barking and Dagenham with 54 and Croydon with 53 claims.
At the other end of the scale, Maldon saw less than four claims per 100,000 households, followed by Woking and Broadland with five claims.
The Isles of Scilly had no possession claims at all during the quarter.
Robby Du Toit, managing director of Sell House Fast, said it was crucial for those at risk of repossession to speak with both legal advisers and lenders, adding “communication ‒ at all levels ‒ is essential to avoid panic.”
Ministry of Justice figures have pointed to a spike in repossessions last year, with Lloyds Banking Group believed to be the lender behind the sharp increase.