| Home repossessions in the UK last year fell to their lowest level since 2007, the Council of Mortgage Lenders (CML) reported. Over the course of the year a total of 33,900 homes were seized by residential mortgage lenders, a decrease from 37,300 in 2011. As a result, the rate of repossession fell to 0.30% in 2012 from 0.33% a year earlier.
Additionally, the stock of properties in possession held by lenders at the end of 2012 was the lowest recorded for over five years. The CML stressed that lenders try to keep borrowers in their homes and only take possession as a last resort...............................................Full Article: Source
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