Some good news for those analysing the housing market, recent figures released by lenders show that the number UK home repossessions dropped by 7.5% in the first quarter of 2010 agains the same period last year. The total number of houses repossessed also dropped quarter to quarter from 10,600 in the last 3 months of 2009 to 9,800 in the first 3 of 2010.
In addition to this, the Council of Mortgage Lenders (CML) noted that this figure was also lower than the 13,200 for the same period 12 months earlier. Better news then, but why are repossessions down? Analysts put the reduction in repossession orders down to low interest rates and resulting low mortgage repayments.
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