"The number of families threatened with repossessions is on course to be the highest since 1991, at the height of the Tory recession.

"Repossession claims have skyrocketed since last year. Many families could well end up losing their homes in the months ahead.

"The Prime Minister's pride and stubbornness has made him completely unwilling to recognise the dangers in the housing market. It is overstretched households that will pay the price.  

"This Government must stop having vague discussions with mortgage lenders and instead clearly lay out the procedures which must be followed before a property can be repossessed.

"Repossession must only ever be a last resort. Lenders must seek all possible alternatives before taking such action."