180% Increase In Search for Repossession Information Online

Written by Paul on Friday 20 February 2009

Repossessions & Mortgage Shortfalls Reflected Online

Visits to Payplan’s website increased by 180% from people searching for repossession related information during the final quarter of 2008, compared to the same period in 2007. Online search enquiries from people searching for ‘mortgage arrears’ related information also increased by just over 94%.

Home Repossessions Up 54%

These figures serve to further justify concerns raised about people’s ability to afford their homes - this on a day when the Council of Mortgage Lenders (CML) has announced a 54% rise in home repossessions in 2008, rising to 40,000. Although these figures are less than were predicted, there is still plenty for homeowners and non-homeowners to be concerned about, with a spate of recent job cut announcements and a mountain of UK unsecured debt to contend with.

Payplan’s online visitors searching for repossession information alone rose 293%, and for information on mortgage shortfalls the number rose by 157%, the latter perhaps being indicative of the scale of the downturn in the UK’s economy and the effect that this has had on UK house prices.

Payplan Can Help

If you’re struggling to pay your mortgage, your rent or have unsecured debts you cannot pay, then call Payplan for free advice on 0800 280 2816. Alternatively, you can contact us online using our debt calculator for free advice and support within 24 hours or sooner.

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