City's repossessions rise by 50%

The number of homeowners facing repossession orders in Nottingham has risen by 50% over the past year.

Figures from the Royal Institute of Chartered Surveyors (RICS) revealed 1,260 people faced repossession orders in the first nine months of 2007.

Chris Charlton, a Nottingham estate agent and member of RICS, said the figures were "quite alarming".

The Citizens Advice Bureau said it had seen an increase in people struggling to pay their mortgage.

'Look forward'

Mr Charlton said: "It's probably the third highest rise in the UK, which for Nottingham, in terms of running an estate agents, I find quite surprising.

"We're going to need to look into those figures and see why the percentage increase is so high.

"The outlook for interest rates is that they will come down over the next 18 months, perhaps as low as four per cent, so from that point of view people can look forward as a long as societies pass the cuts down."

Anne Stratton from the Citizens Advice Bureau said homeowners who are having trouble meeting mortgage payments should contact their lenders as soon as they can.

"The first thing to do is to sit down and be real about exactly where you are financially.

"Contact you creditors as soon as you get a problem. They will often deal very reasonably with you if you talk to them sooner rather than later," she said.

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