Repossession orders up by 17%

The effects of tighter credit and more expensive mortgage payments appear to be having an effect on the housing market with the news that respossession orders are up by 17% (27,530 orders made, up from 23,438 in the same period of 2007). An order is the first stage of the repossession process and whilst many of these homes won't be repossessed the upward trend is a cause for concern. Read details here.