MORE than 100 homes in Ceredigion have been repossessed by mortgage lenders in the last 10 years, following the 2008 financial crash.

Figures released by the Ministry of Justice also reveal that renters have been hit hard by the weaker economy and austerity measures.

Mortgage lenders repossessed 122 homes in Ceredigion between the start of 2008 and March this year, most commonly for unpaid mortgage payments.

However, the rate has slowed markedly in recent years, with only six repossessions in the last 12 months. At the peak of the crisis, 20 homes were repossessed in 2008 alone.

And renters have also been affected, with 80 evictions from private and social rented properties over the last 10 years, mostly for unpaid rent.

Jackie Bennett, director of mortgages at UKFinance, who represent mortgage lenders, said the situation had improved for homeowners in recent years.

She said: “The number of mortgages in arrears is at its lowest level since records began, while possessions remain at a historic low.

“This has been helped by low interest rates and lenders supporting borrowers through periods of temporary financial difficulty wherever possible.

“As ever, customers should not hesitate to contact their lender if they anticipate any payment problems and want to discuss what options are available. Repossession is always a last resort.”

In the first three months of 2018, there have been five claims by mortgage lenders to repossess homes in Ceredigion, a rate of 15 in every 100,000 households.

Eviction threatened 19 renters, with claims for possession from landlords or housing associations at a rate of 58 in every 100,000 households.

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