Possessions and arrears fall in Q2

New arrears have now fallen steadily to 51,000 in Q2 2009 from 60,000 in Q1 2009 and 68,000 in Q4 2008. With borrowers still struggling to clear their arrears, the total number of loan accounts in arrears has increased since early 2007. At the end of Q2 2009 there were 403,000 loan accounts in arrears, an increase of 3,000 (1%) since Q1 2009 and up 30% on a year earlier. Although the number of new possessions has grown significantly since Q3 2007, the sharply upward trend, evident up to Q3 2008, has stabilised in the last three quarters. In Q2 2009 the number of possessions was 13,...