More than 11,000 homes were repossessed in Britain during the third quarter of the year, 12 per cent higher than in the second quarter, figures out today showed.
The Council of Mortgage Lenders’ data released today showed 11,300 homes were repossessed in the third quarter of the year.
Despite the increase, the council said it still expected about 45,000 repossessions this year.
However, the council said the number of households in mortgage arrears by the end of the year was likely to exceed forecasts as its figures showed 168,000 households were in arrears at the end of September 2009 - 8 per cent higher than the 155,600 at the end of June.
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