The pandemic has had a significant impact on the global economy, leading to job losses, reduced income, and financial hardship for many people. As a result, repossession rates have increased in some areas, particularly for homeowners and renters who have struggled to keep up with their mortgage or rent payments.

Looking to the future, the repossession rates may continue to be influenced by a range of factors, including the ongoing economic recovery, government policies and interventions, and the evolution of the pandemic itself.

If the economy recovers strongly and employment levels return to pre-pandemic levels, then it is possible that repossession rates may begin to decline. However, if the economic recovery is slow or uneven, or if there are ongoing waves of the pandemic or other unforeseen events, then it is possible that repossession rates may remain high or even increase further.

Governments and policymakers may also play a role in shaping the future of repossession rates, through measures such as targeted financial support, debt relief programs, and regulations on lenders and landlords.

Overall, while it is difficult to predict with certainty what the future holds for repossession rates, it is clear that ongoing economic and social challenges will continue to impact the housing market for some time to come.

If you have any concerns about your house being repossessed, please call us on 0161 850 9911 during working hours.