Today’s topic – House Repossession – what did you expect? A favourite here on the Repossession.net blog, the Council of Mortgage Lenders (CML), have released yet morefacts and figures. This time they’re all about repossessions and show that banks and lenders took 10,200 properties into possession in Q4 of 2009. Quarter on Quarter, this figure was 13% lower than Q3 but when the whole of 2009 is assessed, repossessions totalled 46,000 properties, a level not seen since the mid nineties.
The only positive is that ’09 figures didn’t meet the grim forecasts at the start of year, forecasts that this year put repossession numbers at some 53,000 with around 205,000 arrears cases to boot.
