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There are at least 2 million people coming off of fixed rate mortgages in the next few months. With interest rates now higher than when these were originally taken out these people are going to notice a real difference. There is now much less choice of mortgage deals around, this can only lead to a marked increase of mortgage repayments which many people are going to find increasingly difficult to repay. When this is added to all the higher costs of fuel, bills and food costs etc. that have all gone up and are continuing to rise in price, many people will be paying out more per month than they are earning. This will start an increase of people defaulting on their mortgages which in turn will lead to an increase in repossessions. In 2007 there were 27,100 repossessions, this number is set to increase this year. Will it get as bad as it did in the 80’s & 90’s where there was a total of 600,000 repossessions?