BBC programme Panorama will report on research which has found that seven out of ten homes repossessed in recent months were owned by sub-prime mortgage borrowers.
Research shows that sub-prime borrowers equate for more than 70 per cent of 7,000 homes repossessed in the last three months.
Panorama, which features tonight at 8.30pm on BBC 1, will feature one borrower – David Bradbury – who was given a 25-year £55,000 mortgage to buy his council house despite living on benefits and being in poor health.
Bradbury now pays an interest rate of over 11 per cent and he and his wife have faced a repossession hearing.
Council of Mortgage Lenders’ statistics show that seventy-seven homes were repossessed every day in the first half of the year, the highest rate for eight years.