Concern at huge jump in actions for mortgage repossessions
Sinn Féin Housing spokesperson, Fra McCann MLA has described the 33% jump in actions for mortgage repossessions as very serious.
The latest figures from the Court Service show that during the first quarter of 2008, 754 writs and originating summonses were issued; compared to 566 for the first quarter in 2007 - a 33% increase in the number of mortgage cases received in Chancery against the same period in 2007.
Mr McCann said:
"There are very serious concerns about the hundreds of people facing difficulties with their home mortgage repayments.
"There are already huge pressures on housing, with waiting lists for social housing and homelessness at an all time high. These latest figures show just how bad the situation is.
"The figures show a 33% increase in the number of actions for repossession because people can't keep up with their mortgage repayments.
"Cleary many people are finding it difficult to meet their repayments with ever changing economic circumstances. Interest rates are high, gas, oil and electricity prices are up along with increasing food prices. In many cases people are finding that these cost of living increases are pushing them over the financial edge.
"We need an imaginative response to this crisis, a responsible approach from Mortgage providers and leadership from the Housing Minister." ENDS