Mortgage Arrears and Repossessions
Published / Last Updated on 16/02/2010
Mortgage Arrears and Repossessions
by Ashley Clark, Director
The Council of Mortgage Lenders has announced there was a fall in the number of arrears and repossessions at the end of 2009.
The number of repossessions was 46,000 as opposed to 40,000 at the same time in 2008, but less than the expected 48,000.
In terms of mortgage arrears, there were 188,300 accounts in arrears, 3% higher than the same period in 2008.
CML expectations for 2010 are 52,000 possessions and 205,000 account arrears.
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