Let’s talk repossession for a bit, the Council of Mortgage Lenders (CML) figures released recently show that lenders only took 10,200 properties into possession in the 4th quarter of 2009. This figure was 13% lower than in the 3rd quarter but repossessions for the whole of 2009 reached 46,000, a level not seen since 1995.
On the up side, the ‘09 repossession figures were significantly lower than the 75,000 predicted at the start of year but on the down side there are 53,000 repossessions and 205,000 arrears cases forecast for 2010. So as is usually the way with an unstable market, we don’t really know what we’ll see in the near future.
Tags: fast house sale, quick house sale, repossession, Sell And Rent Back, Sell My House Fast