Increase In Mortgage Repossession
Accroding to a new report by the Council of Mortgage Lenders (CML), there was a 15% rise in repossessions during the first quarter of the year.
9,100 homes were repossessed during the first 3 months of the year however this was down 10% from the same period last year.
Michael Coogan, CML director general, said “Looking ahead, the financial position of many households is likely to be stretched for some while, and some will inevitably find themselves in difficulty,”
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