Home Repossessions in Stockport on the rise

2.30.57pm BST (GMT +0100) Wed 9th Apr 2008

Home reposeessions in the area are on the rise

Last week in a debate in the House of Commons on "Repossessions and the Housing Market" called by the Liberal Democrats, Mark Hunter MP for Cheadle revealed the shockingly high number of home repossessions in Stockport MBC.

During the debate Mr Hunter stated that the number of repossessions locally had increased by 10% in the last year, double the average increase across the rest of the country. Mr Hunter also stressed the point that rising levels of personal debt and the unstable economy was causing a worrying and serious slowdown in the housing market.

Speaking after the debate, Mr Hunter said: "The Government seem to be avoiding the problem of crippling debt facing hundreds of families in Stockport and thousands of families across the country.

"Living costs are on the rise and families are being faced by increasing costs from all directions, forcing them to cut back on essentials to keep their homes.

"The credit crunch really seems to be kicking, last year alone there were 547 home repossession orders made by Stockport County Court.

"The Government needs to act now to help these overstretched families who are facing evictions. They need to work with mortgage providers to ensure that families can stay in their homes, and commit real resources to financial advice centres to help people deal with money in the tough months and years ahead.

The Government has woefully mismanaged the economy and now they need to help the families who are suffering because of it."