A decline in number of properties taken into possession last year

February 10, 2017

News release from The Council of Mortgage Lenders (CML) yesterday 9th February headlined ‘Mortgage possessions down again in fourth quarter of 2016’

According to new data from the CML the number of properties taken into possession last year declined by almost 25%, over the course of 2016, the number of mortgages in arrears also fell by 7%.

Commenting on the data, CML director general Paul Smee said: “It is encouraging to see another improvement in arrears and possessions during a year in which borrowers were clearly helped by the downward trend in mortgage rates. But customers do need to be ready for a time when the outlook may not be so benign, with pressure on real incomes increasing and as interest rates begin to move upwards again. As ever, borrowers who fear they may miss a payment should speak to their lender. Lenders remain committed to helping borrowers work through any period of temporary payment difficulty and remain in their home wherever possible”.

Read the CML news release from yesterday in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

mycelium growth
Estate Agent Talk

How to spot and prevent damp and mould in your home

As temperatures fall and homes become more susceptible to condensation and moisture, Propertymark is urging tenants and homeowners to be aware of the signs of damp and mould and take action early to protect their homes and their health. Two-year-old Awaab Ishak died from a severe respiratory infection after being exposed to damp and mould…
Read More →
Estate Agent Talk

Rightmove Sends the Enquiry. The Branch That Rings First Books the Viewing

Every branch pays the portal invoice. Rightmove and Zoopla deliver the enquiries, often within seconds of the applicant pressing the button. What happens in the next half hour decides whether that invoice turned into a viewing or into a line in someone else’s diary. The uncomfortable truth, which Rightmove’s own research has pointed to for…
Read More →
Breaking News

Residential projects remain under pressure

Infrastructure keeps UK construction moving through a sluggish spell Residential and non-residential projects remain under pressure, while infrastructure and utilities work give the industry a much-needed lift The value of underlying work starting on-site during the latest three months declined 2% and stood 18% below last year’s levels. Residential construction starts fell 8% against the…
Read More →
Breaking News

Homebuyers hold tight ahead of Autumn Budget

but should they wait to make their move?   The latest research from Yopa has revealed that mortgage market activity has reversed in recent months, with approvals falling at an average monthly rate of 3.9% over the last four months, having previously increased by an average of 1.5% per month over the previous four months, suggesting…
Read More →
Breaking News

House price growth accelerates in Q2

The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market continued to build momentum during the second quarter of 2026, with UK house prices increasing by 1.1%, while London recorded a second consecutive quarter of positive growth.   The Benham and Reeves Market Index Review…
Read More →
Breaking News

House prices hold steady despite impact of higher interest rates

House prices were unchanged in September (0.0%), following a -0.3% fall in August The average property price is now £298,441, compared to £298,395 in August Prices were also unchanged annually (0.0%) compared with September last year Northern Ireland continues to lead UK annual growth, at +7.4% Latest first-time buyer prices reveal what a 2.5% deposit…
Read More →