According to a recent repossession hotspot assessment, London has the highest number of repossession order notices in the UK. Overall; city centres have been hit the worst with the capital fairing terribly according to the figures from the recent Spicerhaart Corporate Sale report.
In the first quarter of 2010 London had 166% more repossessions than 2nd placed Birmingham, with Manchester, Liverpool and Belfast coming in 3rd, 4th and 5th respectively. As well as being unable to make mortgage repayments, home-owners have also seen the value of their properties drop, leaving many experiencing the nightmare of all property owners – the dreaded negative equity.
