Repossessions at lowest level since 2007
8 August, 2013
According to the Council of Mortgage Lenders (CML), repossessions are at their lowest level since 2007. In the six months to 30th June, the number of repossessions totalled 15,700, compared to 13,100 in the second half of 2007.
Repossessions declined 4 per cent in the second quarter of 2013, from 8,000 in Q1 to 7,700 in Q2.
CML head of policy Jackie Bennett says: “Given the pressures on household incomes, the continuing modest decline in arrears and possessions is welcome.
“Low interest rates and lower than expected unemployment are providing some relief for households, and borrowers are continuing to prioritise mortgage payments while lenders are showing forbearance where it is viable.”
Should you click on any of the links above, you will leave the regulatory site of Censeo. Neither Censeo nor Primis is responsible for the accuracy of information contained within the linked site.