Recently I have read of reports from CAB that people with primary residence mortgages are being issued with letters withdrawing the mortage at say 30 days notice. If they can't repay their outstanding balances by the deadline, they are then in default and liable to repossession.
Also credit card issuers are drastically reducing the credit limits to card holders with no warning and with no payment defaults/dealys etc. by the card holder.
[ If you dare phone to ask (not complain - that would be a complete waste of time), you'll be told that a letter is in the post, and that this letter had an enquiry phone number on it .... but No, the customer advisor cannot give out that phone number or explain the reason over the phone (despite passing security checks). At least, that seems to be the pattern. ]But what I'm actually enquiring about in this post is the extent of these problems. How many people are having their mortgages foreclosed? How many are losing credit facilities? From which financial institutions?
PS: What exactly are Darling Gordy doing about it?