Repossessions of British homes jumped 71% in the second quarter as rising borrowing costs made it harder for property owners to pay off their mortgages, U.K. financial regulators said Tuesday.

The number of homes repossessed increased to 11,054 from 6,476 a year earlier, the Financial Services Authority said, citing data collected from about 300 U.K. financial companies. The figure was 21% higher than in the previous quarter.

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