Repossessions of homes have leapt more than 40 per cent since the housing market began to slow last year, raising fears that some lenders are taking precipitate action against homeowners struggling to pay their bills.

Figures from the Financial Services Authority show lenders repossessed 9,152 properties in the first quarter of 2008, compared to 6,471 who lost their homes between January and March last year. The data show a big acceleration in repossessions towards the end of last year.