The number of homes repossessed in the UK soared by over 50 per cent in the first quarter of the year, according to the latest figures presented by the Council of Mortgage Lenders Friday.
12,800 properties were repossessed by lenders in the UK during the first three months of 2009, from 10,400 in the fourth quarter of 2008.
A total of 75,000 homes are forecasted to be repossessed this year, although figures are expected to be revised lower in the next housing market forecast update.
Image by elationaviation under Creative Commons.
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