Council of Mortgage Lenders on 'better' repossession levels
A total of 9,600 homes were repossessed in the UK in the first three months of the year, which was lower than the figure that the Council of Mortgage Lenders (CML) predicted.
Spokesperson for the CML Sue Anderson told the BBC that the numbers are "good news" and that their forecasts may be revised. The CML had predicted that repossessions would reach 45,000 in 2012.
Homes are repossessed when mortgage borrowers fall behind on monthly payments and have little prospect of paying.
10 May 2012
- From the section Business