ndividuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into

Repossession rate twice as high in Wales

Repossessions in Wales have risen by a quarter over the past 12 months twice as high as the rate in England, new figures have revealed.

According to the Department for Constitutional Affairs, the number of claims issued for repossessions in Wales grew by 26 per cent, compared to 13 per cent in England.

Experts believe that a combination of low incomes, rising interest rates and flexible lending schemes is leading to serious affordability problems.

Shelter Cymru director John Puzey told Inside Housing: "The Welsh have a lower than average income than residents in the UK, but the ratio between house prices and income is much lower in Wales.

"Those with the lowest income often live in areas such as Pembrokeshire, with the highest house prices."

Mortgage repossessions throughout the whole of the UK totalled 17,000 last year, a 65 per cent increase on 2005.

One million fall behind on payments

UK consumers are defaulting on "unfrequented" amounts of unsecured debt, according to a national newspaper.

Patrick Hosking, banking and finance editor, writing in the Times, has said that after years of unsecured borrowing, more than one million people have now fallen behind on interest payments and are facing financial trouble.

And with banks expected to write off a record 6.64 billion of bad debts from personal loans, according to Citigroup forecasts, there is concern that insolvencies are going to rocket in the coming months.

According to credit reference agency Experian, more than 100,000 individuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into

ion of low incomes, rising interest rates and flexible lending schemes is leading to serious affordability problems.

Shelter Cymru director John Puzey told Inside Housing: "The Welsh have a lower than average income than residents in the UK, but the ratio between house prices and income is much lower in Wales.

"Those with the lowest income often live in areas such as Pembrokeshire, with the highest house prices."

Mortgage repossessions throughout the whole of the UK totalled 17,000 last year, a 65 per cent increase on 2005.

One million fall behind on payments

UK consumers are defaulting on "unfrequented" amounts of unsecured debt, according to a national newspaper.

Patrick Hosking, banking and finance editor, writing in the Times, has said that after years of unsecured borrowing, more than one million people have now fallen behind on interest payments and are facing financial trouble.

And with banks expected to write off a record 6.64 billion of bad debts from personal loans, according to Citigroup forecasts, there is concern that insolvencies are going to rocket in the coming months.

According to credit reference agency Experian, more than 100,000 individuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into

st house prices."

Mortgage repossessions throughout the whole of the UK totalled 17,000 last year, a 65 per cent increase on 2005.

One million fall behind on payments

UK consumers are defaulting on "unfrequented" amounts of unsecured debt, according to a national newspaper.

Patrick Hosking, banking and finance editor, writing in the Times, has said that after years of unsecured borrowing, more than one million people have now fallen behind on interest payments and are facing financial trouble.

And with banks expected to write off a record 6.64 billion of bad debts from personal loans, according to Citigroup forecasts, there is concern that insolvencies are going to rocket in the coming months.

According to credit reference agency Experian, more than 100,000 individuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into

unsecured borrowing, more than one million people have now fallen behind on interest payments and are facing financial trouble.

And with banks expected to write off a record 6.64 billion of bad debts from personal loans, according to Citigroup forecasts, there is concern that insolvencies are going to rocket in the coming months.

According to credit reference agency Experian, more than 100,000 individuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into

ndividuals are likely to become insolvent this year, with the number of people entering into individual voluntary arrangements overtaking the number of bankruptcies. This will increase the number of people being refused credit for the next few years.

Mr Hosking pointed out that returns from other retail products are offsetting losses for banks, but warned that bad debt write-offs are often priced into unsecured lending tariffs.

However, Antony Broadbent of Sanford Bernstein, told the newspaper that the lending sector is currently at the worst point of the credit cycle, with personal loan losses expected to peak "very soon".