52 South Tyrone homes repossessed

House repossessions have continued to rise
House repossessions have continued to rise

Repossessions in the South Tyrone area have continued to rise in spite of the housing market showing tentative signs of recovery.

Some 52 homes were seized by banks and building societies in the South Tyrone area last year, an increase of 15 percent from the previous year’s total of 45.

It is believed that many more homeowners are having serious difficulty paying their mortgages, with 245 writs and summonses issued regarding property repossessions in the South Tyrone area over the last two years.

Sinn Fein MLA Bronwyn McGahan has raised alarm bells at the Northern Ireland Assembly regarding the high rate of repossessions, and urged homeowners in difficulty to seek professional support.

“If the number of repossessions continue to grow at this rate it will add to that already housing crisis in the Dungannon/South Tyrone area”, she said.

“I am calling on the mortgage providers, landlords and banks to reach an agreement with tenants that allow them to remain in their homes.

“I am also calling on anyone who find themselves in mortgage stress or rent arrears to seek help before the problem worsens.”