Home repossessions lower in Q2

The number of homes repossessed fell to 11,400 in the three months to the end of June, down from 12,700 in Q1. The fall reflects the support lenders are giving to borrowers where customers are trying to resolve their payment problems, while Government schemes were also helping borrowers in difficulty, according to the CML. But the number was still 14% greater than the 10,000 cases of repossession in the second quarter of 2008. Low interests have also helped mortgage arrears to level off, despite the recession, giving borrowers a better chance of getting back on track. At the end...