Repossessions to rise in 2011 lenders forecast

Published by Property Community
on Wednesday, 15 December 2010 by Ray Clancy

Mortgage arrears and repossessions will rise modestly next year, the Council of Mortgage Lenders (CML) predicts.

Its annual forecast for the UK property market paints a picture of continued stagnation, with the current low level of sales persisting, and prices falling modestly or staying flat.

The CML says that mortgage rationing by banks and building societies will continue.
And the poor state of the economy will deter some potential home buyers.

“Given the continuing economic …

Tags: arrears, banks, CML, economy, mortgage, prices, property, repossession, uk market

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