- Monday, 15 February 2010People struggling with mortgage-related
debt management could find that having their home repossessed is sometimes the best option, Housing Minister John Healey has claimed.
Mr Healey told BBC's Radio 5 Live: "In some cases there is no way round that and in some cases it is the best thing for the people who are struggling with these mortgages.
"Sometimes it is impossible for people to maintain the mortgage commitments they've got … it may be the best thing in those circumstances," he added.
Ian Boden-Smyth, spokesperson for the UK Insolvency Helpline, said the organisation agreed "100 per cent" with Mr Healey.
He went on to say that from a debt adviser's perspective, repossession was a sound option for someone in "huge negative equity" and high secured debts.
According to figures from the Council of Mortgage Lenders (CML), the total number of possessions hit 46,000 in 2009 -15 per cent higher than the 40,000 during 2008.
The CML has forecast a total of 205,000 arrears cases and 53,000 properties to be taken into possession over the coming year.
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