Mortgages  

North west is worst area for repossessions

North west is worst area for repossessions

The north west is the worst region in England and Wales for home repossessions, with the town of Oldham leading the way, a report has found.

The five-page Repossessions Report by e.surv found there were 2.5 repossessions for every 1,000 households in the north in the first half of 2014, compared to 1.7 in the south.

Total repossessions for England and Wales fell from 27,105 in the first half of 2013 to 23,285 a year later.

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Postcode areaRepossessions per 1,000 households in the first half of 2014
Oldham3.66
Bradford3.55
Liverpool3.34
Wigan3.29
Luton3.26

The north west had the highest repossession rate, of 2.68 for every 1,000. Oldham topped the list for postcode areas, with a rate of 3.66.

Adviser view

Daniel Bailey, mortgage adviser for Derbyshire-based Middleton Finance, said: “I do not come across as many repossessions as I used to, but people are still struggling.”