Friday, Feb 02, 2007
cml arrears and repo stats
Firstrung: Mortgage arrears and repossessions statistics for 2006 - CML
The number of mortgage repossessions rose from 8,140 in the first half of 2006 to 8,860 in the second half, according to figures released to day by the Council of Mortgage Lenders. This brings the total for 2006 to 17,000 - 65% higher than in 2005, but broadly similar to 2001 levels and roughly 1 in 690 mortgages.
Posted by converted lurker @ 02:20 PM (153 views) Add Comment
2 Comments
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2. Orwell said...
You have to think about where these are though - County courts in London issued 6282 repossession orders in the first nine months of 2006 - up 30% on 2005 - to my mind this means about 30% of the total?
Also if this is 30% up on 2006 then another 30% this year would mean if the statistics from the worst year (1995?) of 75,500 possessions are to be repeated (and history has an uncanny tendency of repeating itself) then this means we can look forward to 25 - 30,000 at the height of the next statistics. That is actually 5x the number now?
For people in London that should be worrying I would say...