Almost 800,000 Homeowners At Risk Of Repossession

Almost 800,000 households could be vulnerable to repossession if they suffered a loss of income, according to a new think-tank report. Think tank, the Social Market Foundation, analysed official data and found that of the 770,000 at risk of repossession, just over a quarter – 26% – worked in retail or manufacturing, sectors badly hit by the pandemic. An independent SMF report funded by the Building Societies Association (BSA) shows that the pandemic has reduced the savings of many mortgage-holders, with around 14% of owner-occupiers not having sufficient savings to cover a single month’s mortgage payment. Read more on the Property Industry Eye website.

https://propertyindustryeye.com/almost-800000-homeowners-at-risk-of-repossession-new-report/