The number of properties taken into possession by mortgage lenders rose to 5,630 in the second half of 2005, while there were a record 20,461 individual insolvencies in the final quarter.
According to data from the Council of Mortgage Lenders (CML), the 5,630 properties taken into possession was 22% higher than the 4,620 in the first half of the year, but is still extremely low by historical standards with the peak half-yearly figure set at 38,930 in the second half of 1991. The total number of repossessions in 2005 was 10,260 - 70% higher than in 2004 but still the third lowest annual figure since 1993. Meanwhile, the number of mortgages in arrears of 3-6 months rose to 59,700 - 3% higher than the end of the first half of the year and 11% higher than the end of 2004. ...
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