40 000 Repossessions Below CML Forecast
Published / Last Updated on 20/02/2009
40,000 Repossessions Below CML Forecast
The number of home repossessions in 2008 was below the Council of Mortgage Lenders (CML) forecast of 45,000.
The CML predicted 45,000 repossessions is 2008 and there were in fact 40,000. For 2009, the prediction is for 75,000 reposessions and the CML states that these gloomy forecasts remain unchanged.
Figures suggest that nearly 1 in 50 mortgages have around 3 months or more arrears on mortgage interest payments.
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