Troubled Borrowers Need Help _ Council of Mortgage Lenders
Published / Last Updated on 20/12/2007
Council of Mortgage Lenders CML
The Council of Mortgage Lenders CML claim that repossessions were expected to total 30,000 this year and as many as 45,000 in 2008.
Our view
Given that around 350,000 borrowers are facing mortgage increases of perhaps 2 per cent in 2008 as their fixed rate periods end. This may put many people in financial difficulty with the result that repossessions will increase.
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