January 3, 2012
Mortgage drought means repossessions will rise
Filed under: News —
The Council of Mortgage Lenders believes that the number of repossessions will rise to 45,000 next year, from 37,000 in 2011, an increase of 22%.
This spike in repossession activity will be primarily driven by increasing levels of unemployment, and in turn decreasing household income levels.
Unsurprisingly given the continued economic turmoil, the CML has also cut [...]
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