Repossessions Will Hit 75 000
Published / Last Updated on 02/12/2008
The number of homes being repossessed will rise sharply to 75,000 next year according to the Council of Mortgage Lenders (CML).
The CML, the joint representative lending body for major lenders suggested that repossessions will rise to 45,000 this year and next year will hit levels not seen since the negative equity peak of 1991.
The figures come on the back of yet more news regarding redundancy and unemployment to the point where certain job occupations now find it difficult to secure redundancy cover.
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