Worst-case figures on repossessions
Repossession rates could hit 175,000 a year by 2012, according to a report commissioned under the Labour government.
The report, never published, was commissioned by the National Housing and Planning Advice Unit and forecast the 175,000 figure as a “worst-case scenario”.
The report developed a model predicting how mortgage arrears and possessions would move in different economic scenarios
The Council for Mortgage Lenders is forecasting 53,000 repossessions this year, but has warned that the figure might have to be revised upwards.