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Home repossession numbers fall
10:55am Thursday 9th August 2012 in Business Daily
THE number of home repossessions has fallen to its lowest level in a year and-a-half despite the toughening economy, lenders have said.
There were 8,500 repossessions between April and June this year, marking the lowest quarterly total since the last three months of 2010, the Council of Mortgage Lenders (CML) said.
The CML said the figures indicate that repossessions are so far on a "lower trajectory" than its previous forecast that they will rise to 45,000 by the end of the year.
But it warned that the stable pattern could still be disrupted amid the Bank of England's weak forecasts for economic growth.
© Press Association 2012