The City watchdog reported lately that during the third quarter  of last year, the number of Britons who lost their homes almost doubled.  

The Financial Services Authority revealed that the  said repossessions were 92 percent more than during the third quarter of 2007. From July to the end of September 2008, the number of properties repossessed reached a total of 13, 161.

A noticeable increase in the number of people who could not update their mortgage repayments was also seen. Behind with their repayments were 340, 000 homeowners, which marked a 10 percent increase compared to 2007’s third quarter and  a-24 percent increase during the year.

The FSA stated that what is more significant was the 10 percent increase that happened towards the end of September.  

But even if the number of home repossession  cases soared, the number of homes sold by the lenders did not increase much – from 7, 000 in the second quarter to 7, 687 in the third quarter.