Housing charity Shelter Scotland has responded to CML Repossession Figures showing the lowest annual number of repossessions since 2007.

The figures also reveal a modest improvement in the number of homeowners in arrears.

Gordon MacRae, Head of Communications and Policy at Shelter Scotland, said: "A slight fall in the overall number of UK repossessions is good news, but there is no room for complacency – especially against a backdrop of economic turmoil, government cutbacks, increases in the cost of living and higher unemployment.

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"Although an improvement from last year, there are still 159,400 homeowners living on a knife-edge, with arrears equivalent to 2.5% or more of their mortgage balance. For these families and individuals just a small increase in monthly outgoings could be the trigger that finally pushes them over the edge into a spiral of debt, repossession and possible homelessness.

"In recent months Shelter Scotland’s law service has seen a 40% increase in the number of households facing the threat of repossession by their lender and we expect that number to rise."

Gordon MacRae added: "It is absolutely vital that struggling homeowners get help early. Whether you’re worried about missing this month’s mortgage payment or already falling behind with your bills, we can help stop things from spiralling out of control. Call Shelter Scotland’s free helpline on 0808 800 4444 or visit shelter.org.uk and get help today."

(GK)