Debt Help News: Thousands of homes lost in 2009

It's claimed the number of families who lost their homes last year is far higher than the official figure of 48,000.

The Conservatives say the number of repossessions doesn't take into account homeowners who sold their house to a landlord, to then rent it back from them.

The shadow housing minister, Grant Shapps, told the Financial Times "the official figures fail to reflect their misery."

The Council of Mortgage Lenders predicted there would be 75,000 repossessions during the year, the same as in the recession of the nineties, and if sales and rent back (SARB) were included in the overall figure it could be closer to this original estimate.

Kevin Still, Director of Atlantic, says, "there are still nearly 200,000 homeowners in serious mortgage arrears, many with sizeable unsecured debt, and the CML expect this figure to rise in 2010, along with repossessions.

He adds, "SARB can sometimes offer a homeowner a better option than being re-possessed, and Atlantic has set up a number of Debt Management Plans alongside SARB transactions."

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