NEW FIGURES HIGHLIGHT PROBLEMS FOR HOMEOWNERS IN LEEDS: MULHOLLAND
February 8, 2006 12:00 AM
Responding to the latest statistics from the Department of Constitutional Affairs which show a rise in the number of mortgage possession procedures issued in Leeds and from the DTI showing a large rise in personal insolvencies in Leeds, Greg Mulholland, MP for Leeds North West said:
"These figures show very worrying trends, there is growing number of people in Leeds North West who are finding it harder and harder to cope financially.
"The combination of rising unemployment and record levels of personal debt is spelling catastrophe for many hard working families."
Commenting on the mortgage possession procedure statistics released from the DCA Greg Mulholland, added:
"While they remain below the levels seen in the early 1990s there are clearly big problems ahead. While not all the cases will result in repossession they give a strong indication of the extreme difficulties facing many households. Figures released by the Department for Constitutional Affairs show that the number of mortgage possession proceedings issued in Leeds has increased by an astonishing 56% from 2004 to 2005."
Commenting on the DTI Individual Insolvency figures, Greg Mulholland, continued:
"Last year alone there were nearly a quarter of a million calls to the National Debtline nationwide and the Citizen's Advice Bureau handled over a million problems relating to personal debt. With the cost of servicing debt now close to the high seen in the early 1990s urgent action is required. In Leeds alone, the number of bankruptcies rose by 21% from 2004 to 2005, which is a deeply concerning statistic.
"Individuals must be made fully aware of the risks that are involved and of the relevant insurance products available when they take out a mortgage."
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