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THREE-FOLD RISE IN REPOSSESSIONS IN SCOTLAND

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A leading housing expert has claimed that the threefold increase in the number of people who lose their homes could...
A leading housing expert has claimed that the threefold increase in the number of people who lose their homes could be the result of the increase in council tenants exercising their right to buy and then failing to keep up with mortgage repayments.

The Scotsman (p6) reports that, according to figures from the Scottish executive, the number of homeowners served with eviction orders has gone up from 2,000 in 1994 to 6,000 last year.

The report shows that Aberdeen, Glasgow and Edinburgh have experienced the sharpest increase in repossession orders.

Meanwhile, figures from the Council of Mortgage Lenders show that in England, Wales and Northern Ireland, the number of properties being repossessed has fallen to a 10-year low.

Michael Thain, a spokesman for the Chartered Institute of Scotland, said: 'Lenders have strict criteria for issuing mortgages. However, it is increasingly the case that less well known companies are lending money to lower income households. It is an educated guess that some finance companies are specifically targeting these people.

'However, until we have figures, we have no proof. But if the rise in court orders is the responsibility of high-street lenders then that would be very worrying,' he said.

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