Thursday, May 13, 2010
The begging of the end, or the end of the beginning
Times: Repossessions likely to hit 15yr high
The number of house repossessions has fallen in the first three months of the year to less than 10,000, the Council of Mortgage Lenders has reported.
The decline was not strong enough for the trade association to revise down its grim forecast for the year.
The CML, which compiles the data, expects 53,000 homes to be repossessed this year, the highest rate in 15 years.
The number of repossessions in the first quarter was 9,800, compared with 10,600 in the previous quarter and 13,200 in the first three months of last year. Mortgages in arrears totalled 186,300, compared with 196,400 in the previous quarter.
Posted by exiges @ 11:48 AM (193 views) Add Comment
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