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The Independent UK

Business

Vicky Shaw

Home repossessions skyrocket as cost of living crisis deepens, report reveals

UK Finance United Kingdom Savills

PA Archive

Families have been warned of a “ticking time bomb” as new government figures show a staggering rise in home repossessions as a result of the deepening cost of living crisis.

Repossessions, court claims and warrants have all “increased significantly” for both homeowners and tenants in the latest quarter, according to the Ministry of Justice (MoJ).

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