Whilst home insurance is taken with the purpose to leave many home owners feeling secure about their properties, it is unfortunate that knowing their level of cover cannot aid the discomfort that now grows with many mortgage holders. The latest news reports indicate that home repossession has risen by a substantial 41% since January of this year.

Current figures from The Council of Mortgage Lenders (CML), released today, showed that a total number of 18,900 repossessions took place in the first half of the year, which is a 48% rise since last year.

As a result of the economic slowdown many homeowners are finding it hard to repay their mortgages, forcing ordinary families to give back their properties to their mortgage lenders.

Sue Edwards of the charity Citizens Advice said that “In too many cases lenders are still not doing everything they can to help burrowers in trouble,” The rise and response from lenders is having a demoralising affect on homeowners and families, leaving them feeling insecure about their homes and losing trust in the government.

Whilst some have already reached the stage of no return, there are many who may still be able to get help and consequently change their situation around. This is in need as results have also confirmed a rise in the number of mortgage holders behind with their payments. Many charitable organisations are speaking out and suggesting to those who are in this predicament to start seeking professional advice. Advice should be obtained from organisations such as Shelter, Citizen Advice Bureau, and definitely from their mortgage lenders. The aim is to receive helpful financial advice before it is too late.