Property fund company Residential Property Solutions (RPS) has come out and claimed the Council of Mortgage Lenders (CML) have underestimated the number of house repossession numbers in the UK throughout 2010. As we recently documented, the CML lowered its forecasts earlier this month from 53,000 to 39,000 but managing director of Residential Property Solutions, Pete Thomson, claimed the CML’s downgraded figures are not correct.
Speaking to the FT, he said: “Citizens Advice has reported that 25,360 people sought its advice between April and June this year regarding mortgage payment problems and has said that it believes the numbers can only escalate. Speaking about the forecast for 2011, Bernard Clarke, communications manager at the CML, said the outlook was uncertain.
