Mortgage repossessions leap 65%

Mortgage repossessions leapt 65% last year to 17,000, the Council of Mortgage Lenders said today as it predicted a further rise this year on the back of higher interest rates.

The CML said there were 8,860 repossessions in the second half of last year, up from 8,140 in the first half, bringing the total to 17,000, equivalent to one in every 690 mortgages.

Mortgage repossessions leap 65% | | Guardian Unlimited Business

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