Many more people have lost their homes due to mortgage difficulties than did so in the equivalent period last year, lenders have admitted.
Repossessions jumped over the first half of 2008, new figures from the Council of Mortgage Lenders (CML) show.
From January to June, a total of 18,900 people lost their homes due to falling behind on their mortgages - compared to 12,800 in the first half of last year. However, the CML was quick to point out that this number still represented just 0.18 per cent of residential property in the UK.
Nevertheless, the new results - roughly in line with a similar survey taken by the Financial Services Authority earlier this week - still point to increasing numbers of people struggling with their mortgage finances as the economic downturn continues.
CML director general Michael Coogan observed: "The good news is that most people are coping well and continuing to pay their mortgages in full, despite the higher costs of food and fuel and the higher mortgage rates now prevailing in the market for those coming off cheaper original deals.
"But it is inevitable that more borrowers' coping strategies will come under pressure in current conditions than in the unusually benign years of the last decade. That's why lenders, government and the advice sector are working closely together to minimise the impact on borrowers."
