December 2009

House Repossessions On The Rise

The number of new repossessions in the third quarter of 2009 reached 14,000 in a 2.8 per cent rise on the previous three months, data from the Financial Services Authority reveals.

The FSA’s data on UK mortgage lending shows that this number of repossessions was five per cent below the peak at the start of the year, while new arrears cases continued to fall, decreasing 10 per cent in the third quarter to 46,000.