Grant Shapps,
Shadow
Housing
Minister, has
accused
Labour of
hiding the truth about
repossession numbers by
excluding the figures for
homeowners who sold their
home and rented it back, so
that they could stay in their
home. Labour figures show
48,000 homes were
repossessed in 2009, compared
with 75,000 in 1991 (the peak
of the last recession). The OFT
suggests that 50,000 or so
property sale and rentback
deals were done, which makes
the true number of those who
have lost their home far worse.
“It transpires that thousands
of people have actually lost
their homes, even though the
official figures fail to reflect
their misery,” said Mr Shapps.
Sale and Rentback didn’t
exist in 1991 and there have
been grave concerns about
their fairness and security.
