House Repossessions at 14 year High
House repossessions have reached a 14 year high, with an average of 126 repossessions a day in the past year.The total for 2009 was 46,000 repossessions the highest level since 1995 and 15% higher than 2008.
The Council of Mortgage Lenders is forecasting a large increase in repossessions in 2010, blaming economic uncertainty and possible rising in interest rates. However, the CML did forecast 75,000 repossessions in 2009.
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