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46,000 possessions were taken last year, which is lower than the CML's most recent forecast of 48,000, and significantly fewer than the 75,000 forecasted at the start of 2009.
The Council of Mortgage Lenders (CML) reported yesterday that mortgage arrears and possessions had declined in the last quarter of 2009.
Mortgage lenders took 10,200 properties into possession in the fourth quarter of 2009 - 13% lower than in the third quarter, and 2% down on the fourth quarter of 2008. The total possessions taken in 2009 were less than forecasted by CML but still 15% higher than the 40,000 in 2008.
Statistics published suggest that the numbers of households with lower levels of arrears are improving whilst numbers are little changed in cases with higher levels of arrears.
Further information about the statistics published on mortgage arrears and possessions is available on the CML website.
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The Council of Mortgage Lenders (CML) reported yesterday that mortgage arrears and possessions had declined in the last quarter of 2009.
Mortgage lenders took 10,200 properties into possession in the fourth quarter of 2009 - 13% lower than in the third quarter, and 2% down on the fourth quarter of 2008. The total possessions taken in 2009 were less than forecasted by CML but still 15% higher than the 40,000 in 2008.
Statistics published suggest that the numbers of households with lower levels of arrears are improving whilst numbers are little changed in cases with higher levels of arrears.
Further information about the statistics published on mortgage arrears and possessions is available on the CML website.
More...
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