Repossessions in Exeter up by 20% says Exeter CAB

Local charity, Exeter Citizens Advice Bureau, is reporting that there has been a 20% increase in the number of repossession cases listed at Exeter County Court.

Where a CAB adviser has assisted clients facing repossession, the clients have avoided repossession in 85% of cases.

Exeter City Council has provided financial support for this essential service.

Steve Barriball, Exeter Citizens Advice Bureau Chief Executive, said: “We have at least one adviser present at the Court each Tuesday morning to advise and advocate for clients. In the quarter ending 31st December 2012, there was a 20% increase in repossessions. This is 43 more cases than the same quarter last year, with an increase across all housing sectors with the exception of the private rented sector. There was an average of around 19 cases listed each week.”

Steve explained: “Low interest rates have helped some people with mortgages. However, these figures suggest that for homeowners and those in social housing, factors such as the increasing cost of living and increases in energy costs are hitting household budgets hard. Changes to Council Tax benefit and other changes to the welfare system are likely to hit low income households.”

Steve finished by saying, “I am grateful to the workforce of the Bureau for providing this essential service to people facing repossession. We are also grateful to Exeter City Council for funding this service”.

Repossession trends in 2012/13 – Quarter 3

Sector

Q3 2011/12 Repossessions

Q3 2012/13 Repossessions

Difference

% Change

Housing Association

+13

+28.2%

Private

-11

-45.8%