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UK House Reposessions rise 54% last year, but rise is less than expected
The number of homes in the UK repossessed by lenders rose last year by 54% to 40,000, according to the Council of Mortgage Lenders (CML). Despite the recession, the CML said this was fewer than it had originally predicted, but it expects repossessions this year will reach about 75,000.
According to the CML, lenders were making “strenuous efforts” to ensure repossessions were a last resort. But it also reported a sharp rise in voluntary handing back of keys.
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