In some unfortunate circumstances, properties can be forced, or voluntarily surrendered as a result of the customer's failure to pay. The volume of repossessions can completely depend on current affairs and aren’t always easy to predict. Major economic and political events, like Brexit, and the referendum result have a significant impact on the market. Also, the Coronavirus Pandemic will have a huge impact with so many people out of work.
In 2019, the number of homes repossessed in the UK was at the lowest level it has been since 1980. This is thought to be because of lower mortgage rates, however with current affairs, this may be a completely different, and unfortunate case. Despite the positive drop in numbers over the last few years, experts are warning homeowners to remain vigilant as things could quickly return to a time with increasing pressure on real incomes and rising interest rates.
Why choose Rising Stars for your Repossession services?
Rising Stars Property Solutions CIC can handle repossession of property, belongings and other goods and assets. If we are instructed to repossess goods on your behalf, our staff will maintain a strict adherence to Enforcement Services Association standards and deliver to you the professional service you would expect.
If you would like more information on the services we provide, get in touch with our team.