The number of repossessions by the UK’s first-charge mortgage lenders fell to 36,300 in 2010, with the figure down 24% on 2009, according to the Council of Mortgage Lenders (CML).
The decline meant that 0.3% of all mortgages were subject to possession proceedings last year, while arrears fell by 13% to 169,600 (1.49% of all home [...]
forecast 2011
Repossessions set to rise after 2010 falls
Housing and mortgage markets to remain broadly flat in 2011
In its forecast for 2011, the Council of Mortgage Lenders (CML) says it expects low interest rates to underpin “significantly” current house prices, despite low levels of property sales.
The lenders’ body is even suggesting that the base rate could remain at its current level of 0.5% for the whole of next year.
Low interest rates should [...]
