Repossessions News
11 Feb 2010
Repossessions Rise
The number of people who had their homes repossessed reached a 14-year high during 2009, figures have shown.
The Council of Mortgage Lenders (CML) said 46,000 homes were repossessed last year, the highest number since 1995.
That was an increase of 6,000 on the total for 2008, but was lower than the CML's most recent forecast of 48,000.
Lenders took 10,200 properties into possession in the fourth quarter of 2009 - 13% lower than in the third quarter.
Payment difficulties saw 188,300 mortgages ended the year with arrears equivalent to at least 2.5% of the outstanding mortgage balance, the CML said.