At the end of last year the Council of Mortgage Lenders (CML) warned repossessions would jump 50% to levels not seen since the early 1990s housing slump. The CML said it expected 45,000 repossessions in 2008 - up from 30,000 in 2007.
These figures are now proving right as the Credit Crunch continues to hit throughout the Uk, and it is widely expected that house prices will stall during 2008. The number of home owners trying to avoid repossession continues to increase as mortgage banks such as Northern Rock face tremendous difficulties as a result of the crunch.
