Friday, Feb 20, 2009
Latest CML figures better than expected
BBC 'News': Home repossessions rise to 40,000
The number of homes in the UK repossessed by lenders last year rose by 54% to 40,000, according to the Council of Mortgage Lenders (CML).
The CML said this was fewer than it had originally predicted, and said lenders were making "strenuous efforts" to ensure repossessions were a last resort.
However the CML expects repossessions this year will reach about 75,000.
Posted by little professor @ 10:00 AM (300 views) Add Comment
2 Comments
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1. Guest said...
Interesting piece tucked away at the end under Buy-To-Let - "But the CML's figures reveal that arrears among buy-to-let borrowers are now worse than among homeowners generally." I suspect this is where the next crisis will arise - BTLs have less vested interest in holding out than houseowners, and the Government will come under serious pressure to justify any bailout for this group!
2. Mr G said...
Is the CML's director general Alan Partridge's brother?