Repossessions 'could rise' in Scotland

Homeowners in Scotland are at risk from having their house repossessed if they cannot keep up with mortgage repayments, the Council of Mortgage Lenders (CML) has warned.

The CML stated that although the country is faring fairly well compared to the rest of the UK, 45,000 homes could be repossessed this year, the Evening Express reports.

According to the body, 18,900 repossessions took place in the first six months of 2008.

Director of Shelter Scotland Graeme Brown told the newspaper that the figures are "rising rapidly".

"There will be families in the north-east facing sleepless nights worrying about how to make their next mortgage payment and many more will be waking up to the frightening reality of repossession," he said.

The CML recently reported that the number of remortgage deals taking place in Scotland has dropped over the last three months as a total of 19,000 agreements were granted over this period, representing six per cent of the total UK market.

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