Re­pos­ses­sion fears not borne out

Yorkshire Post - Property - - PROPERTY -

FORE­CASTS that there will be 40,000 re­pos­ses­sions this year now look off the mark.

The Coun­cil of Mort­gage Lenders says that ar­rears are con­tin­u­ing to fall and that re­pos­ses­sion numbers are sta­ble. Reporting on the third quar­ter, the CML said the num­ber of prop­er­ties taken into pos­ses­sion by mort­gage lenders was 9,200, frac­tion­ally up on 9,100 in the sec­ond quar­ter. The num­ber of re­pos­ses­sions in the quar­ter equated to 0.08 per cent of all mort­gages. This has been the same for five of the last six quar­ters, with the ex­cep­tion of Q4 2010, which ex­pe­ri­enced a typ­i­cal sea­sonal dip to 0.07 per cent.

So far this year, a to­tal of 27,500 prop­er­ties have been taken into pos­ses­sion.

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