Recent findings by leading housing and homelessness charity Shelter have established that the North East is one of the most affected regions by mortgage repossessions in the country. Homeowners in County Durham have been particularly vulnerable, with 970 households having been issued with possession claims in 2011/12.
Kevan Jones, Member of Parliament for North Durham, said: “These latest figures released by Shelter show just how hard many ordinary families are finding it to make ends meet in regions like the North East.
“The Tory-led Government has based its economic strategy on paying off the deficit at the expense of jobs and growth in the economy. Areas like County Durham have been especially damaged by their damaging public sector cuts, which have resulted in rising unemployment and posed great difficulties for many trying to keep up with their monthly mortgage payments.
“It is all well and good for the Government to focus on establishing low interest rates, but if jobs aren’t created in the economy then unemployment will rise and people will struggle to keep on paying off their mortgage. Ministers must do more to lift Britain out of a double-dip recession that they themselves have caused, and they must do more to help the many hardworking families who are struggling to make ends meet”.
Full details of the report’s findings can be found on Shelter’s website: