Latest figures from the Council of Mortgage Lenders shows the number of mortgages in arrears and the number of repossessions both fell in the first quarter of 2010. The number of repossessions was 9,800, down from 10,600 in the previous quarter and 13,200 in the first quarter of 2009, while loans in arrears fell from 206,800 at the end of the first quarter of 2009 and 196,400 at the end of last year to 186,300 at the end of the first quarter of this year.
However, we all know the major reason for the lack of repossessions during this recession is due to artificially low interest rates and mortgage support from the government.
Read on to find out more about the property market and mortgage repossessions for 2010.
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